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Dentists employed on a PAYG basis.

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.