Doctor specific lenders that waive LMI

Discussion in 'Property Finance' started by 36_, 6th Feb, 2019.

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  1. 36_

    36_ New Member

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    Hi

    Just a quick question
    What lenders are competitive at the moment with rates and will waive LMI on 90 or 95% LVR for loans for doctors?
    I'm just compiling a list before I compare rates and start talking to lenders.

    Any tips hugely appreciated!
     
  2. Terry_w

    Terry_w Mortgage broker licenced 4 tax/legal advice Business Member

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    many lenders
    But the rates can be lower with the smaller banks who don't provide the waivers.
     
  3. Redom

    Redom Finance Strategist Business Plus Member

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    Usually the bigger lenders have MEDICO policies. Big 4, BoQ specialist, other specialist medico lenders.

    Most of the others, Big 9 & and beyond don't have waivers.
     
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  4. JohnPropChat

    JohnPropChat Well-Known Member

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    Who is the in the Big 9 list?
     
  5. Redom

    Redom Finance Strategist Business Plus Member

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    Suncorp ING Macq AMP Adelaide Bankwest etc - I don't think they have medico waivers. Macquarie did, but pulled it not too long ago I believe. They price by LVR anyway, so it hasn't been competitive.
     
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  6. 36_

    36_ New Member

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    Not sure if anyone was interested but I had a talk to a couple of banks

    Big 4 all will do 95% and no LMI
    Still yet to speak to boq specialist be interesting to see how their rates compare