Is your dream home just out of reach?
If you’re a finance or legal professional, you may be eligible for a professional package that saves you thousands of dollars when buying your next property.
It could be the difference between settling for less or securing the home of your dreams.
What is a professional package?
A professional package is a special home loan offer available to eligible finance and legal professionals through selected lenders.
The standout benefit?
Eligible borrowers can apply for new or increased lending up to a 90% Loan-to-Value Ratio (LVR) without paying for Lender’s Mortgage Insurance (LMI), potentially saving tens of thousands of dollars.
Why LVR and LMI matter
LVR is the amount you’re borrowing, expressed as a percentage of the property’s value.
If you’re buying a $1 million property and borrowing $900,000, for example, your LVR is 90%.
Normally, if your LVR is over 80%, lenders require you to pay LMI.
LMI protects the lender (not you) in case you default and can add a significant upfront cost to your property purchase. It can range from several thousand dollars to well over $20,000 depending on the loan size.
With a professional package, eligible borrowers can avoid the cost of LMI and:
- Save thousands in upfront costs and improve their loan serviceability
- Retain more savings for moving costs, renovations, or investment
- Potentially access sharper interest rates from lenders
In short, a professional package is a smart way to keep more money in your pocket and get the most out of your mortgage.
Who can qualify?
Professional packages are available to a range of finance and legal professionals, subject to lender criteria.
You may be eligible if you are:
- An accountant, actuary, or investment professional holding recognised qualifications such as:
- CA (Chartered Accountant)
- CPA (Certified Practising Accountant)
- CFA (Chartered Financial Analyst)
- FIAA (Fellow of the Institute of Actuaries of Australia)
- A legal professional such as a barrister, lawyer, or solicitor holding a current practising certificate
Other eligibility criteria may apply depending on the lender.
How much could you save?
The potential savings from avoiding LMI can be significant—not just upfront, but over the life of your loan.
Here’s a quick example:
- Imagine you’re buying a $1 million property
- You take out a $900,000 loan (90% LVR)
- Without a professional package, you might have to pay around $20,000–$25,000 in LMI, depending on your circumstances
If you don’t have the $20,000+ handy, many lenders allow you to capitalise the LMI, meaning it’s added to your loan amount.
So, instead of borrowing $900,000, you might end up borrowing $920,000–$925,000. Over a 30-year loan term, that extra $20,000–$25,000 could cost you thousands more in interest.
And because lenders often view eligible professionals as lower-risk borrowers, you may also have access to more competitive interest rates.
By qualifying for a professional package:
- You save on the initial LMI premium
- You avoid paying interest on a higher loan amount
- You keep your borrowing costs lower from day one
Bottom line: A professional package could help you save both upfront and long-term, while keeping your financial position stronger over the life of your loan.
| Scenario | Without Professional Package | With Professional Package |
|---|---|---|
| Upfront LMI | Approx. $20,000–25,000 | Nil |
| Loan size | $920,000–925,000 | $900,000 |
| Interest over 30 years | Higher | Lower |
Final Thoughts
Professional packages aren’t widely advertised, but they can offer significant advantages if you’re eligible.
Saving thousands on LMI and reducing your overall borrowing costs could make a big difference to your financial circumstances, whether you’re buying your first home, upgrading or investing.
If you’re ready to explore whether you qualify for a professional package and how much you could save, let’s connect.
Disclaimer: Professional package eligibility criteria vary between lenders. Other lending conditions and requirements may apply. This article provides general information only and does not constitute financial advice.