Residential and Business lending for Dentists with Medi Financial
Why choose Medi Financial as your specialised medico broker for your personal, and dental practice lending needs?
-
- Complimentary/Free Service to our clients (Australia Wide)
- Ongoing relationship management service
- Access to specialised banking departments
- Enhanced borrowings
- Preferential pricing
- More than 50 lenders to compare
- All of our brokers have at least 10 years of lending experience.
How do dentists secure a home loan?
1. Meeting with Medi Financial
At Medi Financial, our Broker and their team will take the time to understand your financial position and lending needs. This is usually completed by coming out to meet you personally or via a conference call, if preferred. It extremely important that we understand your financial goals and position before making any recommendations.
2. Recommendations
Secondly, based on your financial goals and needs, we will make three recommendations on preferred lenders that our team feels best fit your financials needs and goals. This could be the lender with the best price or policy, or a mixture of both! Given we have a panel of over 50 different lenders to compare with, be assured that we will find the right match for you.
We will then organise a time with you to present our recommendation to you, and generally in that meeting we agree on the best course of action.
3. Loan Submission
We will then seamlessly collect all financial documents and submit these to the chosen lender for approval or preapproval. We utilise statement collection technology and liaise directly with your accountant to minimise any time impact.
4. Ongoing service and reviews
Once your loan is settled, our Broker team will review your loans automatically every two years to ensure you’re always receiving the most competitive rates in the market. Medi Financial is about relationships and service first and foremost. This is a free of charge service and on an on-going basis, where having a medico broker is truly beneficial, as banks will never review your rates unless prompted.
Residential (owner occupied and investment) loans for Dentist
1. Policy: Dentist could qualify for a home loan of up to 95% of the property value without the need to pay Lenders Mortgage Insurance
This effectively means you would only need to put a 5% deposit down (plus stamp duty) and we can finance the remaining amount with a major bank. The waiver of Lender Mortgage Insurance typically saves the average dentist $20,000-$30,000 in cost (depending on the loan size)
2. Preferential pricing – specialised banking segment
Generally, if a Dentist deals with the bank directly or deals with broker who does not specialise in the medical space, preferred pricing or policies may be overlooked. Given our large lending volumes and different segments we utilise within the banks, we generally have a greater degree of flexibility when it comes to pricing power and lending flexibility.
3. Significant savings
Historically, we have saved dentist on average $7,142 per year in bettering their lending rates and tens of thousands of dollars utilising medico policies within our lending panel.
4. Enhanced borrowings
Australian lenders view dentists as low-risk borrowers and in coordination with a submission proposal from a medico specialised broker like Medi Financial, we can push for optimal outcomes on the lending front. The benefits largely obtained on the rate and credit policy front are not available to the general public and historically have saved our dentists having to unnecessary pay more than they need to on their mortgages.
To qualify as a Medi Financial client you must be a member and/or registered with one of the following associations:
Australian Dental Association (ADA)
Commercial and Business Loans for Dentist
Types of fundings we assist our dentist with:
a) Commercial Property Funding
Purchase a new clinic site
We specialise in securing loans for dentists covering up to 100% of the purchase price or asset value without the need for Mortgage Insurance. This advantageous benefit extends across car finance, home loans, and commercial loans.
b) Goodwill Funding
New Dental business purchase or cashflow requirements
- Buying a practice or buying into a partnership is a big decision and can be daunting, especially when considering your finance options. Medi Financial help by making the loan process simple, easy and understandable all while looking for the best options to meet your needs. With options of funding up to 100% of the practice, favourable interest rates, Terms and Conditions.
c) Asset Finance Funding
New Dental equipment purchase
- Up to 100% LVR car and equipment loans. From imaging, surgical and dental to other vital equipment, the Medi Financial Team understands that having the latest medical equipment facilitates doctors to provide the very best health care possible, while promoting the generation of additional revenue as patients seek to be supported by the very latest technology.
d) SMSF Funding
Purchase a new clinic, borrow 90% of purchase price in your SMSF
Benefits of borrowing through your SMSF:
- Potential tax advantages
- Direct control of your super investments
- Diversification of your portfolio
- Protection of your assets