Home loans for Psychiatrists

In order for lenders to consider extending discounts and waivers to you, you will need to provide evidence that you have membership to one of the following groups:

• Australian and New Zealand Association of Psychiatry, Psychology and Law (ANZAPPL)
• Australian and New Zealand Mental Health Association (ANZMH)
• Australian Health Practitioner Regulation Agency (AHPRA)
• Australian Medical Association (AMA)
• National Association of Practicing Psychiatrists (NAPP)
• Royal Australian and New Zealand College of Psychiatrists (RANZCP)

Please note that even if you hold one of the current memberships but are currently qualified as a psychologist, unfortunately the same benefits are not applicable. This is because Psychiatrists are medical professionals authorized to prescribe medications, whereas psychologists are not.

Banks will consider different types of psychiatrists, so speak to one of our experts to confirm that you qualify!

What are the income requirements?

Although banks are aware that as a psychiatrist the type of income you earn and the way you are paid may not be standard, not all banks are able to accept all income structures. In order for them to be able to consider your income, they will want to see:

• The terms and conditions under which you are employed (whether a contractor, full-time privately employed etc)
• That you have evidence to confirm that all income that you receive is regular and ongoing, so that they can be assured of its reliability

What are the benefits?

• LMI waived where you are borrowing up to 100% of the value of the property.
• Maximum borrowing limit up to $4.5 mil.
• Interest rate discounts that are not available to the public

Most lenders don’t advertise these benefits to the general public so speak to one of the experts at Mortgage Providers to see how we can help you get a Psychiatrist Home Loan.