Have you heard of Medico Packages? Sometimes also referred to as a ‘Medico Pack’ home loan. This is a discounted home loan available specifically to certain medical professionals. Major lenders provide these packages based on historical data confirming that medical professionals have the lowest delinquency rate in the market plus a higher than average loan size. This is great news for both young medical professionals looking to find a competitive rate to enter the market and those established in the market looking to further benefit under this policy as they build their property portfolio.
Top 4 Benefits from one of our Lenders.
- No minimum annual income for eligibility
- Standard choice of variable and fixed home loans – Basic loan excluded
- Waived Lenders Mortgage Insurance up to a maximum LVR of 90%
- $1,250 refinance rebate can apply if refinancing an existing home loan
Who Is Eligible?
- General Practitioners
- Hospital-employed doctors
- Medical Specialists
- Veterinary Practitioners
Client Success Story
We recently helped a client who was still studying and working part-time as a pharmacist, enter the market without paying LMI. Our broker was able to find a solution with 1 of only 2 lenders offering Medico Packages to pharmacists who are often excluded. Another differentiating factor of this package is that there are no minimum income requirements. As a result they were able to borrow up to 90% LVR without paying LMI (which would normally apply over 80% LVR). Our client was able to buy property sooner as he only needed a 10% deposit plus fees.
Launch Finance is very proud to say our happy client is enjoying his new home, the savings that came with the purchase and the market education gained regarding his future purchases as a medical professional. At Launch our experienced team consistently find the ‘right loan for you’ and strive to educate you best in building your financial future with you. Do you have any clients in the medical professional looking to purchase property? One of our expert brokers are happy to advise your clients during a free consult, get in touch by filling out the form on this page.