Did you know that some banks offer special home loan deals to professionals such as accountants, doctors, solicitors and engineers? If you fall under this banner then you may be eligible to borrow up to 90% LVR with no mortgage insurance. For example, if you are buying a home for $1,000,000 and borrowing $900,000 then you could save around $24,500 in mortgage insurance. Read on for more information on how you can save on your home loan.
Why are some professionals eligible for special deals?
Many banks and other lending institutions identify accountants, doctors and lawyers as low risk borrowers with higher than average incomes. Some of these lenders are prepared to lend high loan to value ratios (up to 90% of the property value) without lenders mortgage insurance. This can save you thousands of dollars and the higher the loan the more you save.
How can Collins help?
As a mortgage broker with access to over 30 lenders, Collins Home Loans can assist in negotiating exclusive home loan packages for professionals which combine the following features:
- Borrow up to 90% LVR
- NO Mortgage Insurance
- Ability to make accelerated payments, and
- Interest only or principal and interest loans.
The actual loan product will depend on your particular circumstances such as your income and the size of the loan you are seeking. But all these details can be discussed when you speak with a Mortgage Lender from Collins.
Contact Collins Home Loans today for more information and an obligation free home loan assessment.
