Sometimes referred as a medico package home loan, as the name suggest it’s a special discounted home loan ( life of the loan discounts) with special flexible policy made available for borrowers employed in the medical industry.

Bank’s provides favourable discount and flexible policy for medical professionals and other professionals because, according to bank’s statistic Medical professionals and Doctors has the lowest mortgage delinquency rate and tend to start their own practice which require commercial and business loan later down the track.

Medicos and other professionals that are high income earners are given access to massive mortgage savings through home loan deals which is impossible for others to get.

Experts say banks keep a record of preferred borrowers and doctors are at the topmost.

The 9 industries that banks has special policy and loans for;

Medical professionals, health care professionals, nurse and doctors

Lawyers, barrister, judge and magistrate

Civil Engineers, Software Engineers, mining Engineers and geotechnical sciences

Accountant with CPA or CA and Financial Planners, Auditors and Actuarial

CEO, CFO and high management

Real estate agents, property valuers, Quantity Surveyor and Architects


Professional athletics

Actors, actress, public personnel, Radio host and Television host

Of course, just like reviewing a patient’s medical history when diagnosing a patient, each application is considered on a case-by-case basis and Lenders will need to review your financial situation before providing you with an LMI waived mortgage offer or these special benefits. They will also seek confirmation of your employment as a medical practitioner and evidence of certain insurance covers being in place prior to approving your loan.

These special benefits may be available for applications in either the Medical Professional’s own name, or in the name of related companies or trusts provided direct ownership and/or directorship by the applicant is evident. Eligibility is not dependent upon all borrowers being employed as an eligible Medical Professional.

To find out more about the benefits of finance through Mortgage IQ, please contact our Medical & Professional Lending Specialist.


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