Medico Loans for buying Property - A Great Financial Solution for Medical Professionals and Doctors

Sept. 26, 2014 - PRLog -- I am a General Practitioner. Is it possible for me to obtain a loan to buy a converted residential house to use as my practice premises?

- Dr Alex (General Practitioner)

Hi Dr Alex,

It is a very interesting question asked by many medical professionals, medicos and doctors. To attract medical professionals and to fight competition, specialist lenders/credit providers have developed an amazing loan package called "medico loan" (also known as "medico pack" and “loan for doctors”). The loan package can help you in buying a converted residential house to use as your practice premises.

If you are a medical professional like Dr Alex, you can also take advantage of the medico loans and start your practice. Before you apply for medico loans, you must know everything about it so that you make a wise decision. So, let’s start.

Apply Now at http://www.singhfinance.com.au/medico-loans for Quick Approval and Special Discount

The Purpose

Amedico loan has many purposes. However, you should keep in mind that refinancing of working capital, equipment finance and all other business related purposes are excluded from the loan package. In addition to buying a converted residential house to use as your practice premises, you can also use a medico loan to:

>> Purchase residential properties (owner-occupied and investment property purchase)

>> Refinance your existing home loan

>> Consolidate your debts, or

>> Obtain cash out (Equity Release)

Special Discounts and Benefits

Medico loans have been specifically developed to offer doctors with a number of special deals and discounts. Here are a few of the special discount deals and benefits provided to medical practitioners:

>> Confirmation and validation of 5% genuine savings is not required

>> A maximum Loan-to-Value Ratio (LVR) of 90% may be approved without Lenders Mortgage Insurance (LMI)

>> Discounted interest rates

>> Easier loan approval - even for the typical "hard loan proposals"

>> Discounts on Lenders Mortgage Insurance (LMI) premium or even no LMI

>> No Set Up cost or Application costs

>> No valuation

>> Special interest rate for family members, and

>> Easier cash out (Equity Release policy)

Eligibility Criteria

Here is a brief list of medical professions who can choose a medico loan pack and get all the special discount deals and benefits:

>> Doctor of Medicine

>> Surgeon

>> Hospital - Employed Doctors (Intern, Resident, Registrar, Staff Specialist)

>> Dentist

>> Chiropractor

>> General Practitioner

>> Optometrist

>> Radiologist

>> Veterinary Practitioner

>> Physiotherapist, and more

Income Documents and Employment Verification Requirements

Income documents are standard, and you only have to provide copies of the most recent tax return for both, established self-employed medical professionals and PAYG medical professionals. And, you only have to provide copies of the following employment documents:

>> Your University degree or qualification, or

>> Your Registration with the Medical Practitioners Board of Australia or equivalent body

Truly, lenders/credit providers have made loans simpler for medical professionals by providing medico loans. So,don’t worry about obtaining a loan package for establishing a private practice.

Singh Finance is a reputed Australian brokerage firm. It will help you in obtaining loans for doctors. Don’t worry if you do not have all the loan documents ready. You can obtain low doc home loans ( http://www.singhfinance.com.au/residential-finance/low-do... ) easily. Call on 0424 190 908 or enquire online today.