Medical Practice Loan
Can you get a Commercial loan for your Medical Practice up to 95% LVR with no LMI? Yes you can. This is not an exception to the rule product but a blanket approval for all registered Medical and Dental practitioners.
95%LVR Medical Practice Premises Loan without LMI?
A business loan at 95% LVR means you only need to contribute 5% in either cash or equity from another property without the need to pay LMI to secure the loan to buy you practice premises. The Practice Premises loan uses standard business loan products but with the flexibility of a 95% LVR.
Requirements for 95% LVR with NO LMI Practice Premises Loan
All lenders who offer a 95% LVR with NO LMI commercial loans require you to have demonstrated affordability or capacity to service the loan. Further, there are a small number of lenders who will lend you at 95% LVR with NO LMI even if you are just establishing your own practice now.
Up to how much can I borrow at 95% LVR with No LMI?
You can borrow up to $2,000,000 per property and up to a total of $15,000,000 per portfolio. Where there is a compelling case we can also look at going over that amount, however will be subject to affordability.
Interest Rate at 95% LVR with No LMI
Most lenders when going outside their normal lending criterias will not offer discounts or even charge more, however we have access to some of the most competitive pricing in the market and some generous discounts off the standard variable rates. . A Mortgage Providers broker can explain which lenders are suitable and guide you through this.
Costs at 95% LVR with No LMI
The costs at 95% LVR with No LMI are the standard commercial loan fees and charges and there are no additional fees or charges for utilising this product. Depending on the size of the loans our Mortgage Providers staff can even look at getting some of the fees discounted or depending on the situation even waived, just call and speak to us.
Refinance, new purchase, Equity utilisation all at 95% LVR with NO LMI?
Yes, yes and Yes you can do all 3 and lots more using this policy as long as you are a registered medical or dental practitioner and you operate out of the premises.
Can we do more that 95% LVR with NO LMI?
Yes however this is on an exceptions basis and client must be able to meet some more stringent criteria to be eligible. For this option your will need to speak to one of our Mortgage Provider specialist to discuss whether you would be eligible.
What are the products on Offer with a 95% LVR?
We have access to all the standard business loan products in addition to a number or working capital type facilities. Talk to our Mortgage Provider specialist to discuss what options best suit you.