Finance
Getting Finance Ready
Before we can find you the right property, you need to have your finance in place. Not a rough idea of what you can borrow. Not a conversation with your bank. Full pre-approval, with your deposit confirmed and ready to go.
This isn't us being difficult. It's us protecting your time.
In a competitive market, the right property doesn't wait. When it becomes available, you need to be able to move the same day. A conditional approval won't do that. Full pre-approval will.
Medical professionals and finance
Lenders treat medical professionals differently.
In most cases, that works in your favour — but only if you're working with a broker who understands how.
LMI waiver
Many lenders waive Lender's Mortgage Insurance (LMI) for doctors, dentists, and other medical professionals — even when borrowing above 80% of the property value. LMI can cost tens of thousands of dollars. If you qualify, you don't pay it.
Income assessment
Medical income structures are complex. Overtime, on-call loadings, allowances, and contract arrangements are assessed differently by different lenders. A broker who understands the medical profession can find you a lender that works with your income — not against it.
HECS and HELP debt
Every dollar of outstanding HECS/HELP debt reduces your borrowing capacity. It's treated as a liability, and the impact is often larger than people expect. The right broker can help you understand exactly where you stand and how to structure your application.
Early career
If you're a junior doctor or in your first role after completing your studies, your employment history may be short. That's not necessarily a problem — but you need a lender familiar with the way medical careers progress. We can refer you to someone who is.
What full pre-approval means
Conditional vs full pre-approval.
There's a difference between conditional approval and full pre-approval. Conditional approval is a starting point. Full pre-approval means:
We can refer you to a trusted mortgage broker who works specifically with medical professionals. They understand how lenders assess medical income, HECS obligations, and the way medical careers are structured. You're welcome to use your own broker. Either way, full pre-approval comes before we start the property search.
The lender has assessed your income, liabilities, and credit history
Your borrowing capacity is confirmed
Your deposit is confirmed and accessible
You can make an unconditional offer when the right property comes up
Finance FAQ
The finance questions we hear most.
Want to go deeper? Read: Are You Finance Ready?
Ready to get started?
Once you have full pre-approval in place, we're ready to go to work.
Book a call with us. We'll confirm you're finance-ready and get the process moving.