Hi guys, Are there any lenders who will waive the LMI on a home loan for Podiatrists? I have my own business and last year’s earnings were 104K. I’m a first time buyer and I currently have 30K in savings and looking to buy a property at 500K. Is this possible? Thanks.
The basic rule of thumb is if you can write a script, you can get lmi waived. Anz and westpac had some outliers, I think one was doing pharmacists for a while for instance.
Shahin, those are both fellowships of medical colleges (postgraduate qualifications gained by doctors allowing practice in a particular specialty - other examples would be FRACGP, FANZCA, FRACS) Podiatrists are an allied health profession with either a bachelors or a masters in podiatry, depending which uni they went to
BoQ specialist is the only lender that will do the LMI waiver for Podiatrists. Westpac and St George have a list of specialist but if it doesn't fall in that bracket (which it doesn't) then they wont do the LMI waiver.
BoQ are available via the broker channel but not the specialist division so you need to contact them directly. I know they did it in 2016 so they should still be able to help.
Just plan well ahead with BOQ, if there is a little bit of complexity, it will confuse them like no other lender.
BBQ recently had them come back demanding a cross of 3 properties because the sale periods of stock was slow. When asking, so how does XCOLL solve slow sale periods, especially when you already have an all monies clause ? Pregnant pause - I dont expect an answer other than, coz we say so. ta rof
Westpac has LMI waiver for people in the Sports and Entertainment industry. To be classified as a Professional Sport and Entertainment Person they must have an accredited Manager, Agent or Accountant. So Baz Luhrmann would be eligible for LMI waiver.
Once bagged a hatrick in a open grade grand final. Also work with an accredited Accountant. Looks like I need to have a chat with my broker.
