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ANZ waives LMI premiums for eligible doctors, medical practitioners, specialists, and dental practitioners who have as low as a 5% deposit. Eligible professionals can apply for this waiver under the ANZ Medico Policy.
ANZ Medico Policy
Eligible medical professionals or health practitioners applying for a new or increased lending with a 90-95% LVR (as evaluated by ANZ) can get the following loan facilities and benefits with ANZ:
- Eligible applicants can borrow up to 95% LVR with no LMI.
- No genuine savings requirement.
- Maximum loan amount of $7.6 million on a single security.
- Total lending of $8 million with an LVR greater than 80%.
- No minimum registration period for self-employed ABNs.
- Only one year of tax returns and financials is required to verify most types of self-employed income.
- Eligible for land and construction lending.
- Offset account available on 1 year fixed rate loans.
- No setup fees.
- No ongoing loan fees.
What occupations are eligible for ANZ’s Home Loan Waiver?
ANZ offers 90-95% LVR with LMI waived for the following health practitioners and professionals:
The bank offers up to 90% LVR with waived LMI for
- Chiropractors
- Physiotherapists
- Veterinarians
- Optometrists
Up to 95% LVR for:
- Anaesthesiologists/anesthetists
- Cardiologists
- Cosmetic surgeons
- Dentists
- Dental surgeons
- Dermatologists
- Doctors, Intern Doctors, & General Practitioners
- Epidemiologists
- Endocrinologists
- Gastroenterologists
- Gynaecologists
- Immunologists
- Medical resident
- Medical registrar
- Neurologists
- Obstetricians
- Oncologists
- Ophthalmologists
- Orthodontists
- Paediatricians
- Pathologists
- Pharmacists
- Plastic Surgeons
- Radiologists
- Rheumatologists
- Surgeons
- Urologists
Criteria to be eligible for ANZ’s LMI Waiver
Read the following eligibility checklist to see if you qualify for ANZ’s Medico Home Loan LMI Waiver:
Medical practitioners, specialists, and dental practitioners:
- Must be a medical practitioner, specialist, or dentist registered with the Australian Health Practitioner Regulation Agency (AHPRA).
- Must be an Australian citizen or permanent resident – borrowers currently having a 457 or 482 visa will qualify if their occupation code is listed on the Medium and Long-Term Strategic Skills List (MLTSSL)
- Must have at least an equal or majority share in the property
- Borrowing a maximum of $4.75 million to purchase or refinance the property
- The property you are buying or refinancing must be a House/ Townhouse valued by ANZ at $5 million or less or a Unit/other standard residential property type valued by ANZ at $4 million or less
- Total home loan lending with ANZ will be $8 million or less
Optometrists, physiotherapists, chiropractors, and veterinarians
Optometrists, physiotherapists, chiropractors, and veterinarians who can provide at least a 10% deposit are eligible for an LMI waiver if:
- You are an optometrist, physiotherapist, chiropractor, or veterinarian registered with the Australian Health Practitioner Regulation Agency (AHPRA) or relevant veterinary boards.
- You are an Australian citizen or permanent resident.
- Applicants who hold a 457 or 482 visa are eligible if their occupation code is listed on the Medium and Long-Term Strategic Skills List (MLTSSL)
- You have at least an equal or majority share in the property
- You are borrowing $4.5 million or less to purchase or refinance the property
- The property you are buying or refinancing is a House/Townhouse valued by ANZ at $5 million or less or a Unit/ other standard residential property type valued by ANZ at $4 million or less.
- Your total home loan lending with ANZ will be $8 million or less.
Apply for an LMI Waived Home Loan through ANZ
At Mortgage Pros, our specialist mortgage brokers will assist you with your home loan application. We’re committed to providing ongoing customer support and exceptional service to doctors and medical professionals looking to get tough home loans approved.
Speak with us at 1300 030 388, and we’ll take you through ANZ’s medico home loan and determine whether you qualify for an LMI waiver.
