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Call 1300 13 17 11

The ONLY Medico Home Loan Package to include Nurses

Buy or Refinance
up to 90%

Pay no LMI

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Nurses, find out how you can save with the home loan deal Doctors have prescribed themselves for years. 

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4.92 out of 5 stars from 231 reviews on ProductReview.com.au

"Sally and her partner saved $9,559 up front and $191 a month ongoing"

UP TO 98% VARIABLE RATE SPECIAL OFFER (>$250K)

2yr variable rate

2.29

%

p.a.

3.90

%

p.a.

Comparison rate*

Key features

  • Borrow up to 98%

  • $0 application fee

  • 100% offset facility

  • $0 monthly fee

  • $395 annual fee

UP TO 98% FIXED RATE SPECIAL OFFER (>$250K)

1 - 3 yr fixed rate

2.29

%

p.a.

3.79

%

p.a.

Comparison rate from*

Key features

  • Borrow up to 98%

  • $0 application fee

  • 100% offset facility

  • $0 monthly fee

  • $395 annual fee

Why don't all banks offer 90% loans without LMI? And why are we different?

You're not going to like this... 

The truth is they already do - just not for you.

For years the big banks have given LMI waivers to an 'exclusive' list of professions borrowing over 80%.

Doctors, Judges and Lawyers have been enjoying LMI free purchase and refinance loans and saving tens of thousands of dollars in Lender's Mortgage Insurance in the process.

All the while good credit borrowers in equally respectable professions have been overlooked.

It isn't fair, but we don't expect that to change anytime soon either.

Want the good news...?

There are banks out there who care about customers as much as their bottom line - you just haven't heard of them.

Smaller banks are just as secure as big ones. But unlike big banks, they typically specialise in one type of customer group.

These banks know that certain professions are just as safe to lend to as Doctors. Better yet, their rates are often lower because they don't waste millions on brand ads and brokers channels.

We specialise in helping small banks like these bring their amazing products directly to the people that deserve them the most.

That's probably how you found us!

Calculate how much you can save.

^ Terms & conditions apply. Eligible good credit applicants only.
Calculations are estimate only. Speak to a Parker Lane mortgage specialist to receive a FREE personalised quote.

How it works

1

Get Assessed

Get the lowdown on what we can do for you and see if you qualify in just 5 minutes.

2

Get Approved

Find out if you qualify for 90% no LMI finance or if you need to provide some more information.

3

Pick a Loan Option

Our highly rated advisors will give you options to choose from - just pick the term and rate that work best for you.

4

Settlement

Once you've been approved, our team manages the refinance or purchase settlement process

Congratulations! You've achieved mortgage freedom in 4 easy steps :)

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One of Australia's 
most reviewed brokers

"We found staff at Parker Lane professional and and helpful in every way, making the process stress free and easy.
 
Keely helped us by offering a variety of loans and options, some options we would never have considered or known about based on our situation.
 
Alana always kept us up to date and we highly recommend anyone looking at refinancing, consolidating or for any other loans with Parker Lane.
 
Thank you Keely and Alana for assisting us during this process, we are very excited about paying off our home loans sooner."

Amanda N

Stockwell, SA

Who is eligible and what exactly is LMI again?

Eligible Applicants

Not so long ago, certain professions were revered with equal respect to the likes of Doctors and Lawyers.

We call them Everyday Heroes: Professionals serving the community including:

 

  • Nurses

  • Teachers

  • Police

  • Fire Fighters

  • Paramedics

  • And more...

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LMI explained?
LMI stands for Lender's Mortgage Insurance. LMI is the insurance premium you (the borrower) pays to protect the bank from you.

The greater the risk (the higher the loan as a % of the value) the higher the premium.

LMI is payable on loans above 80% and it is the number one reason why:

  • Home Buyers take years longer to get into the market and repay their mortgage

  • Home Owners are forced to remain in bad loans paying thousands more each year in wasted interest


It isn't unreasonable to expect more and we can help you get what you deserve. 

Loan Information

Loan Details


General

  • Life-of-loan discount off the standard variable interest rate
  • Deposit your money into a 100% offset facility which allows you to reduce the interest on your home loan
  • Save money with no monthly fees
  • Low annual fee of $395
  • Use your money your way by making extra repayments without penalty and redraw your money as you need it
  • Benefit from flexible repayment options – pay weekly, fortnightly or monthly
  • Available for owner occupied or construction purposes
  • You can borrow up to 98% of the property value with lenders mortgage insurance. Lenders mortgage insurance will apply if you are an eligible borrower are you borrow over 90% of the property value.
  • If you borrow 80% or less of the property value Lenders mortgage insurance may not be required.
Package Benefits Interest rate and fee discounts on your loan, plus discounts on other products and services: Enjoy all these benefits for one annual fee of $395
  • Transaction fee free banking
  • $0 annual fee on our low rate credit card – saving you $40
  • $0 application fee on personal loans – saving you $195
  • A 10% discount on the first years premium on home and/or contents and/or car insurance
Loan to Value
  • Borrow up to 95% of the value of the property
    • Lender's Mortgage Insurance (LMI) applies above 90% (appoved applicants only)
  • Capitalise LMI up to 98%
Acceptible Securities
  • Residential properties
  • Vacant land
  • Construction




Fees and Charges


New Money Offer - $0 application fee applies to application, legal and valuation fee with only one valuation fee waived. Government charges or any exit costs may be incurred from your existing lender. Additional fees may also apply. Please refer to your lender for a schedule of fees and charges.

  • $0 applicaiton fee
  • $0 valuation fee (first valuation only)
  • $0 monthly and $395 annual fees
  • Redraw fee: Internet (BPAY®, internal and external transfers) $0: Staff Assisted $30




Eligibility


To qualify, at least one borrower (not guarantor) must be employed/engaged in one of the occupations listed below.

  • Police Department employee (sworn officer or civilian)
  • Ambulance Officer (including specialist paramedics)
  • Qualified Nurses (including hospital and nursing home/aged care facilities)
  • Prison Officers
  • Professional Fire Fighters
  • Qualified / Licenced Teachers (currently employed in a school)
  • Legal Practitioner
  • Accountant
  • Medical Doctor
  • Dentist / Orthodontist
  • Judicial Officer
  • Veterinary Surgeon
  • Optometrist / Ophthalmologist
You can apply if you:
  • Are over 18 years of age
  • Have a regular income
  • Have 5% genuine savings OR equivalent rental payment history
  • Are not bankrupt
  • Are an Australian citizen, a permanent resident or have an approved working Visa
  • Have not had defaults on any Loans, Credit cards, Interest free finance or Store cards in the last 5 years
  • Have been in your current job longer than 6 months
What you may need to apply:
  • Your personal details, such as your current and previous address, phone number and email address
  • Details of your income, employment, any assets (e.g. home, car or savings) and debts (mortgages, loans and credit cards) you currently have.
Self employed
  • Full documentation applicants acceptable.




Comparison Rate Explained


The comparison rate is ASIC's standard for comparing loans of $150K over 25 years. Comparison rates may not be the best way to compare the value of loan options which are for different amounts and terms.





3,000+ happy customers and counting...

We're famous for helping good credit homeowners buy, refinance or renovate with cheaper rates, lower fees and easier processes.

Our panel of banks includes all the major lenders you already know plus some values based customer-owned banks you may not have heard of (yet).

We work closely with our panel of banks to create lending products that better meet the needs of our special customers - like Australia's first 90% no LMI Medico Package to include nurses.

Simply book a 10 minute call with one of our highly rated professionals and we'll do the hard work for you!

Our Promise
3 year 100% Satisfaction
GUARANTEE

Trust Parker Lane with your home loan and if you're not 100% satisfied with your mortgage we will move you to a new lender and pay the standard application and discharge fees.^

NO QUESTIONS ASKED!

Work With us How Ever You Like

Get self qualified

Curious? Take the 60 second qualification quiz to see if you pre-qualify. 

Book a FREE appointment

Get the lowdown fast a confidential 10 minute session with one of our expert advisers.

 

Success Stories

Refinance

Sally & Adam have escaped their old mortgage

Sally (Aged Care Nurse) & Adam (Tree Lopper) were told they had to pay Lender's Mortgage Insurance again if they wanted to refinance.

Their existing home loan lender had refused to negotiate a better rate - Adam believes "they knew they didn't have to [reduce our rate] because they had us trapped."

 

They believed they were not eligible to refinance without paying LMI until they spoke with Parker Lane.

Key Points

  • An estimated 200,000 Australians are trapped in bad mortgages because the value of their property hasn't grown enough to facilitate an 80% LVR refinance

  • Sally and Adam were quoted $9,559 in Lender's mortgage insurance to refinance with another broker

  • Sally has always thought it was unfair that only Doctors get access to high LVR no LMI medico packages

RESULT

Old Interest rate: 3.12% p.a.

New Interest rate: 2.29% p.a.

Monthly payment reduction: $191

TOTAL 5 YEAR SAVING

$21,019

Sally & Adam reduced their monthly payments by $191 a month and avoided paying $9,559 in Lender's Mortgage Insurance.

Purchase

Nick & Amrita bought their next home years earlier

Nick (ICU Nurse) & Amrita (Accountant) thought they had years of saving ahead of them before they could buy a house without paying LMI.

They were told that because they were not purchasing a 'new' home they did not qualify for the First Home Guarantee scheme. 

Amrita said "it's didn't seem fair that because we were buying established we had to miss out. Thank goodness for Parker Lane!"

Key Points

  • Nick and Amrita had saved $42K but still had another $39K to go towards their 20% deposit goal at a rate of $330 per week

  • Sally and Adam were quoted $6,559 in Lender's mortgage insurance by their existing bank if they wanted to buy now without saving the remaining 20% deposit 

RESULT

Purchase Price: $380,100

Deposit use: $41,000

New Interest rate: 2.29% p.a.

PURCHASED THEIR HOUSE EARLIER BY

2.1 Years

Sally & Adam bought into the hot Brisbane market 2 years sooner and saved a massive $6,540 in Lender's Mortgage Insurance.

Tired of scrolling?

Get a hold of a Parker Lane human on 1300 13 17 11.

OR email hello@parkerlane.com.au to get the help you need.

 

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© 2018 Parker Lane. 

Parker Lane is a trading name of Upside Downside Pty Ltd. Australian Credit License Number 482276

The information contained in this website may not be current or complete, or may not remain current or complete, and therefore under no circumstances should be relied upon. No warranty or representations as to its accuracy or completeness is provided. We are not liable to your or any other person for loss, damage or injury arising from the use of, or reliance on, this information, including but not limited to loss suffered in connection with incorrect or out of date information. It is not intended to be a substitute for professional financial advice and does not purport to guarantee any projected amount of borrowings. All applications for credit are subject to normal credit approval criteria. Parker Lane specifically disclaims any responsibility or liability for any losses or damages arising from any use of or reliance upon any calculations or conclusions reached using this website. See our credit guide for further details.