Are you an accountant? Then we have some good news for you. Accountants meeting certain requirements (based on the bank or lender) are eligible to obtain an LMI waiver of up to 90% of the property value. Read below what benefits you apply for!
LMI waiver and other benefits may apply to accountants with us:
- One shop to navigate the market. As ex-Big 4 bankers, we are experts in the mortgage market. Therefore, we know which banks have competitive deals and the likelihood of their approval. Avoid spending hours researching and the potential risk of getting declined with a black spot on your credit score.
- Asset protection: Purchasing your asset under a company or trust structure to protect the asset and take advantage of tax benefits
- Tax advantage through us: Every time we do business together, something great happens. You get an advantage – a tax advantage! We finance your dream whilst investing up to half of our profits (on your behalf) to empowering vulnerable families through microfinance.
Please note that the below information is only general information, and based on the lender’s specific policies; it may change over time.
General qualifying conditions apply – need to meet all conditions:
- Minimum annual income
- Eligible occupation
- Industry membership
- Maximum borrowing amount
Minimum annual income:
Income is generally based upon the state you reside in. Generally, $120,000 income is the minimum required for TAS, SA, WA, and NT. $150,000 is the minimum required for NSW, VIC, ACT and QLD.
If this required is not met, you may still be eligible if your total application income is a minimum of $150,000. This includes your partner’s income and potentially rental income.
Accountant occupations eligible for an LMI waiver:
- Finance manager
- Chief financial officer
- Financial controller
- Finance director
To qualify, you need to be a CPA, CA, CFA or FIAA & registered under:
- CPA Australia
- Chartered Accountants Australia and NZ
*If you’re under another membership, you may still be eligible depending on lender chosen.
What do you call an accountant with an opinion? An auditor!
Samuel Philipos is founder and principal mortgage broker at Benevolence Financial Group. Samuel is an ex-banker with over 5 years of experience and is currently being supported by Macquarie University Incubator and City of Parramatta Council