If You’re A Mining or Engineering Professional You Already Qualify For Fast Home Loan Approval and Preferential Treatment…

That’s right, just a 15% deposit and no LMI.

Depending on the purchase price of the property you’re buying, this equates to a saving of between $5,000 and $20,000. Here at Professional Home Loans we are one of a limited number of brokers who are authorised to offer this type of mortgage to professionals.

Who Qualifies For This Loan?

Engineers and other professionals working in the mining industry, Please contact us to see if you qualify.

Why are lenders offering this preferential deal to Mining and Engineering professionals?

The basis of Lenders Mortgage Insurance is to protect the lender against the possibility of default by its mortgage customers. However, some lenders have realised that you, as a practicing mining professional, are far less likely to default on your mortgage than other customers. Because of this, these banks are prepared to waive their LMI premium with a far lower deposit.

If I am buying with my partner/ spouse who is not a mining/ engineering professional, will I still qualify for the LMI Waiver?

Eligibility for this valuable mortgage benefit is not dependent upon both borrowers being employed in the mining profession. So long as one of you meets the eligibility criteria by your employed position, then your need to pay the LMI premium can be waived.

What loan products and interest rates available?

Taking advantage of an LMI waived offer does not limit your choice of mortgage. All of the different mortgage products will be available to you – including loans specifically designed for professional, like variable mortgages with package discounts, and fixed rate offers with features such as offset accounts and redraw. Interest rates on such mortgages are competitive, and there may be discounts of up to 1% on standard variable rates.

Additional Documentation Required

A lender will want to see some confirmation of your financial situation before making you an LMI waived mortgage offer. This documentation is: Confirmation of your employment in the mining industry: this may be by way of a copy of your registration with the equivalent professional body as well as your employment contract;

Why use a Specialist Mortgage Broker

Who wouldn’t want to save up to $20,000?

As an employee in the mining industry you have an opportunity only available to certain professionals, but securing such a mortgage is only possible through a limited number of mortgage brokers.

It may be that you want to buy your first home but have less than a 20% deposit; or perhaps you wish to refinance, consolidating some debts; then again, it may be that you wish to purchase an investment property to provide passive income.

Whatever the reasons for your mortgage needs, Professional Home Loans is here to help you source the best mortgage for your particular circumstances. Because of your professional dedication, you may be eligible for take advantage of huge savings from an LMI free mortgage.