Home loans for law professionals
What is a Lawyer Home loan?
A lawyer home loan is the special home loan deal that lawyers and other law professionals can get from some lenders.
What special deals are available on home loans for lawyers?
Some lenders will waive lenders mortgage insurance on home loans for lawyers when they borrow above 80% of the property value up to 90% of the property value. This can save thousands of dollars in lenders mortgage insurance especially if you are borrowing a large amount and a large percentage of the property value. Some lenders also provide interest rate discounts for lawyer home loans.
What law professionals get the special lawyer home loan deals?
Special deals are available for:
Home loans for Lawyers
Home loans for Solicitors
Home loans for Barristers
What other criteria do law professionals need to me to get the special home loan deals?
Each lender will have their own conditions that will need to be met. You will need to demonstrate that you have income to be able to repay the home loan or investment property loan comfortably. There are also restrictions on the locations and types of properties that will be used as a security for the loan.
Why do lawyers, solicitors and barristers get special treatment from some lenders?
Is it because the lenders are afraid that lawyers, solicitors or barristers will sue them if they don’t? ummm no, just kidding…
Lawyers, barristers and solicitors get special treatment from some lenders because of their high incomes and stable in-high-demand employment prospects.
I am a law professional and I want to compare my home loan options.
Contact a mortgage broker and go through your mortgage options.
I don’t think that I am eligible for a law professional mortgage, can I still get a good deal on my home loan?
Yes, some lenders offer special home loan deals for people working in other professions (see below). Also some lower income earners may be able to get a low deposit mortgage without lenders mortgage insurance if they are in Western Australia.
Even if you are not in one of the professions that can get special home loan deals, please contact us to find out what we can do for your home loan.
Which other professionals can get special deals on their home loan?
Some lenders specify which professions they allow special deals for these can include:
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