Morning members,
Applied for a loan today with Bank of Queensland
I am a Chartered Accountant by profession..
Many lenders have special packages for medical professionals and some do for Accountanrs, however the Accountants packages usually have a minimum salary requirement of $150k.. AMP might be one that does not though..
I secured a deal for 95% lend @ 4.65% on a 292k borrowing with no LMI.
For my purchase here in melb I'm looking at 480k borrowing @90% lend with no LMI @ 4.44%.
I must acknowledge that higher lvrs place more pressure on the borrower, but it suited our circumstances as we have no problem serving debt, but we only had limited equity and deposit, so this worked well with our strategy and has potentially saved us 15k +. In addition, the rate is very competitive so I don't feel that by not being charged LMI we are paying a higher rate.
Just thought id share this with members.
Applied for a loan today with Bank of Queensland
I am a Chartered Accountant by profession..
Many lenders have special packages for medical professionals and some do for Accountanrs, however the Accountants packages usually have a minimum salary requirement of $150k.. AMP might be one that does not though..
I secured a deal for 95% lend @ 4.65% on a 292k borrowing with no LMI.
For my purchase here in melb I'm looking at 480k borrowing @90% lend with no LMI @ 4.44%.
I must acknowledge that higher lvrs place more pressure on the borrower, but it suited our circumstances as we have no problem serving debt, but we only had limited equity and deposit, so this worked well with our strategy and has potentially saved us 15k +. In addition, the rate is very competitive so I don't feel that by not being charged LMI we are paying a higher rate.
Just thought id share this with members.