Much like you are trained to meet the health needs of your patients, a Mortgage Doctors broker is trained to know which type of loan is suited for your unique circumstances as a medical professional.
With unrivalled market knowledge and a specialised focus on you, we only recommend home loans that have features you are likely to use, maximising your wealth portfolio and minimising the overall cost of your loan.
1
Complete our form or call us to discuss your scenario.
2
We assess your scenario, screen our lenders and get you pre-approved.
3
We negotiate your rate and present you with your options.
4
You pick the option that best suits and we get your loan formally approved.
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Doctor who recently became self-employed and no longer works as a hospital employee.
BACKGROUND
Our doctor client had her mortgage application declined by a bank due to ‘short employment history’ in the new role. She was previously employed full-time at a hospital before registering an ABN and starting a medical business. The bank had declined his loan because she had only been contracting for three months.
THE PROBLEM
When assessing self-employed borrowers, lenders require ABNs to be at least two years old. Lenders will request two recent tax returns showing the income generated as a self-employed medical professional.
OUR SOLUTION
We shortlisted and negotiated with lenders who assessed her employment using bank statements and tax invoices to annualise her income.
THE RESULTS
We placed her with a lender who annualised the income she generated during the first three months as a contractor. No tax returns were required, and the home loan was formally approved
Doctor who had been self-employed over 2 years, however the most recent tax returns show a large difference from the previous year. The max loan approved did not reflect the current situation.
BACKGROUND
Our doctor client was pre-approval for a low loan amount by their bank.
THE PROBLEM
The bank averaged the income and it did not reflect the current situation. Most banks require 2 years tax returns and they average the 2 years if there is more than a 20% variance between the two years.
OUR SOLUTION
We shortlisted and negotiated with lenders who assessed who used a 1-year tax return in isolations exclusively for doctors.
THE RESULTS
The loan was formally approved at a higher maximum loan amount with a lender who used the latest tax return in isolation. The client managed to purchase a property at their original price range.
Mortgage Doctors