90% LVR No LMI for CPA accountants

At lender point of view, risk and serviceability are hand in hand.
Being CPA or CA doesn't guarantee for a high income; however, if they can prove their income can reach to $150,000 plus their credibility ( being a CPA/CA). Then it gives comfort to credit/risk assessment within the bank to approve the lending.

 

Yes if you are a CPA then you probably would have received a flyer or an email from CPA re BoQ 90% no LMI offer.

 

It is an outstandingly secure job though so even if someone is to lose their job they're highly likely to get another job very quickly. It's not like an Engineer who may earn more but can be unemployed for years at a time in the wrong cycle.

I came back from a 9 month holiday and had 24 job offers made within a week of looking for a job from just sending a resume to a recruiter and I am called regularly to see if I want to job hop still because there are that many openings.

Also the 150k is not a significant hurdle, that's basically a management position which you shouldn't be expecting within 3 years but within 7 years is a perfectly obtainable outcome for someone that is competent and strives to get there. Given it counts all external income as well it's a very obtainable target.

It's the same logic as why Doctors are offered similar terms. They have very high future earning capacity, high job security and are likely to be valuable customers on a long term basis. Makes perfect sense to me why the banks would do it.

 

3 years experience = not very experienced in my book.

Then again I'm in my mid 40's so I am a starting to think like an old **** (insert own derogatory phrase).