Sometimes referred as the Medico pack home loans; as the name suggest it’s a special discounted home loan made available to certain medical professionals. According to bank’s statistics Doctors have the lowest mortgage delinquency rate + have a higher than average loan size.
What sort of special deal/treatments do doctors and medical professional receive?
Depending on the bank, field of profession, how strong your case is, security type and the loan amount, it will range from;
- Discounted interest rate
- Discounts on LMI
- No LMI loans
- Easier loan approval- even for the ” typical hard basket deals”
- No valuation
- No set up cost or application cost
- Special interest rate for family members
- Easier cash out /equity release policy
The top 10:
- Doctor of Medicine
- General practitioner