The Daily Telegraph1 recently published a news story on the benefits available to sports stars. These benefits are often by provided by private bankers. It is important to note that these offers are available through a mortgage broker.
The headline of the news story is “Sports stars win on home loans by getting generous exemptions”. These exemptions and extra discounts are not limited to sports stars. Many lenders offer exclusive home loan & banking deals to occupations they actively try to lend to. As a general rule most of these occupations have high income earning capacity.
The benefits offered via these exlusive industry packages vary from bank to bank. Some of the benefits lenders offer include:
The last point is one of the biggest benefits. The article notes that eligible borrowers could save $9.5k in LMI on a $500k loan. We estimate the savings to be even higher than this. Our calcualations show savings of approximately $10,500 (depending on the lender).
The news article specifically refers to Sports Stars & Entertainers. The big banks also all offer exclusive packages to Medical Professionals such as Doctors & Dentists.
Each bank has many other professions that they will offer industry packages to. Some of these professions include:
This list isn’t exhaustive. If you’re a high income earner (earning over $150k per annum) we may be able to find a bank to assist.
The main lenders that offer specialist industry packages are as follows:
Each lender has different benefits, as well as different professions that they target. If you are looking for a better interest rate or mortgage insurance waiver we can help. Get in contact with us to find out how we can make the process easy.