Home loans, car loans and business finance for legal professionals
Lower interest rates. Lower fees. Special borrowing conditions. These are some of the perks you can get when you work in the legal profession and apply for a loan.
Why do lawyers, solicitors and barristers qualify for special deals?
Because they’re regarded as low-risk borrowers. That’s because they tend to have relatively secure jobs and high salaries, which means they’re more likely to repay loans.
What kinds of special deals can you get if you’re a legal professional?
- Lawyers can qualify for lower interest rates and fees than regular borrowers
- Lawyers can buy a property with a 10% deposit without having to pay lender’s mortgage insurance (LMI)
- Lawyers can qualify for larger refinancing cashback deals
- Lawyers can borrow up to 105% on a property purchase with a guarantor loan
That said, conditions apply. Different lenders have different policies, and some legal professionals may not be eligible due to income level, job status and other factors.
We apply our extensive knowledge to find a solution that is right for you and guide you throughout the loan application process.
Why legal finance is a specialised field
As you can see, banks treat lawyers, solicitors and barristers differently. That means banks have different rules when assessing loan applications from members of the legal profession.
Why is that important? Because some brokers don’t understand these specialised requirements. Just as lawyers specialise in different areas; so do brokers. That’s why it’s important to choose a broker that understands the legal profession, like one of our experienced Finance Brokers.
The same goes for business loans. Banks use different criteria with chambers finance than standard business loans. So, if you’re a business owner, it’s important to work with a broker that understands how banks assess applications from law firms.
If you’re a legal professional, Finance Broker Melbourne can help you with:
- Home loans
- Refinancing
- Car loans (personal)
- Car loans (business)
- Chambers finance
Do you work in the legal profession and need a loan?
Meet Brendon Cowan
A Melbourne based Finance Broker with 20 years experience, Brendon’s clients are mostly professional and/or small business owners seeking a relationship based approach to obtaining finance.
