No LMI Medico package

[Brady]

So why don't nurses and teachers get this offer? I would have thought there is job stability in those fields. Or is that where the high income comes in?

Do medicos need to prove savings? A friend's husband is a specialist and was left without a job (not patient related - partners apparently did the dirty). They were without $ for 2 -3months and she said she said they had to sell the beach house. Job security - apparently there are rules that only so many specialists can work in the same region. He has a new position now but has to travel nearly 150k away to work.

A whole heap of teachers are actually very unstable similar to some nurses who are on contracts alot not knowing if they will have a job next year, alot expect and usually do get a contract the next year but all don't.

Been helping a customer over the last few days who is a teacher with the exact problem, finds himself each year struggling when it takes a couple of months to get a new contract or pick up some temp work.

 

[CHAOS]

Thanks Brady - a reminder that some us of are fortunate enough to have permanent employment. I had forgotten about the contract side - was just looking at the need for these professionals.

 

[Terry_w]

So why don't nurses and teachers get this offer? I would have thought there is job stability in those fields. Or is that where the high income comes in?

Do medicos need to prove savings? A friend's husband is a specialist and was left without a job (not patient related - partners apparently did the dirty). They were without $ for 2 -3months and she said she said they had to sell the beach house. Job security - apparently there are rules that only so many specialists can work in the same region. He has a new position now but has to travel nearly 150k away to work.

Doctors are considered a 'profession'. They wear white coats and earn lots of money. Nurses and teachers work in a job. No coats, lower money and therefore less attractive to banks (and potential spouses in some cases).

 

[Brady]

Thanks Blacky - a reminder that some us of are fortunate enough to have permanent employment. I had forgotten about the contract side - was just looking at the need for these professionals.

Brady... but hey I've been called worse

 

[big_head]

Any other professions that get these benefits?

Do the banks assess certain professions and cases individually?

 

[Brady]

Any other professions that get these benefits?

Do the banks asses certain professions and cases individually?

Banks have been doing this for a long period of time, usually through a scoring system. That's why they will ask what your employment is not just how much do you earn.

 

[big_head]

Thanks for the info Brady

 

[CHAOS]

Doctors are considered a 'profession'. They wear white coats and earn lots of money. Nurses and teachers work in a job. No coats, lower money and therefore less attractive to banks (and potential spouses in some cases).

Ok I'll bite. What does a job require to be a profession?

 

[Aaron_C]

Ok I'll bite. What does a job require to be a profession?

Usually a professional body or association which determines the standards of said profession. Doctors have the AMA, lawyers have the law institutes etc etc.

 

[Shahin_Afarin]

Any other professions that get these benefits?

Do the banks assess certain professions and cases individually?

St George also offers this to a pool of other professions including accountants, solicitors, Engineers, etc but must be earning over $150k pa.

This is only available to St George's top brokers called Flame Brokers (of which I am not).

 

[Rolf Latham]

This is only available to St George's top brokers called Flame Brokers (of which I am not).

Given their interesting post approval service im not surprised.

if you think about it "flame" is a good name for a broker that has been tempered by the pain of hell.

ta
rolf

 

[Terry_w]

Ok I'll bite. What does a job require to be a profession?

I don' know. I guess a long course to get in. It couldn't be just a professional body as mortgage brokers have the FBAA and MFAA and they are not considered a profession. Not sure about accountants. Engineers maybe. In conclusion, I dunno!

 

[Qlds007]

Or 'Flame" is what you have to put up your SGB BDM on every deal you ever have the misfortune to give them a deal.

Richard Taylor I Ph: 07 3720 1888 I [email protected]
Start your investment portfolio with our finance broking / property service.

Want to retire at 40 ? Email me for a copy of my API interview.

 

[D.T.]

Given their interesting post approval service im not surprised.

if you think about it "flame" is a good name for a broker that has been tempered by the pain of hell.

ta
rolf

And broker is a good name for someone who helps make you broke (lots of debt please)

 

[jonmardell]

Any other professions that get these benefits?

Do the banks assess certain professions and cases individually?

other professions are accounting, legal and mining professionals can get up to 90% without LMI.

 

[Angel]

When I saw the title I was hoping it meant I could buy a commercial property that operates as a medical centre/pharmacy for 90% without LMI.

 

[Lukey13]

Does anybody know whether any of these packages apply to registered psychologists who are members of the Australian Psychological Society?

Psychologist that is, not psychiatrist.

 

[jonmardell]

Does anybody know whether any of these packages apply to registered psychologists who are members of the Australian Psychological Society?

Psychologist that is, not psychiatrist.

sorry CBA, ANZ, Westpac and St George are not available for Psychologists.

 

[tobe]

Rams too Im afraid, you lucked out.

 

[Colin Rice]

This is only available to St George's top brokers called Flame Brokers (of which I am not).

Apparantley Im a "top performing gold broker". Not sure how that happened A few more deals and I could be on fire. It would be less painful

Spoke to five different people today to get an answer to what I thought was a simple question and still don't know the answer. Oh well there is always tomorrow morning to make sure I avoid the options to not get sent to the Philippines which is a whole other story!