Dentists employed on a Pay as You Go basis at a general practitioners clinic started trading with an ABN 6 months ago, applicant applying for a $2.5M Owner Occupied loan.
Scenario
- Successful GP with APHRA Registration.
- Dentist contributed $125,000 (5%) towards the purchase price of a property.
- Applied for a 95% LVR to assist with the purchase.
- Dentist had an active credit card with the lender.
Solution
- We provided the lender with the Dentists last 2 years’ worth of income documents via tax returns, BAS, interim management figures and bank statements.
- Provided loan approval for an owner-occupied loan with principal and interest repayments over a 30-year loan term.
- 100% of the lenders mortgage insurance was waived which normally would have cost tens of thousands of dollars.
- Customer home loan approved within finance date and settled within 21 days.
