Special conditions might apply to targeted professionals (e.g. doctors, accounts, lawyers, etc.)
Some banks offer special rates or wave LMI (Lending Mortgage Insurance) under certain conditions as part of their Professional Packages. As it has been statically observed that people working in specific professions are lower risk clients (rarely default, repayments on time, borrow more), banks try to target them, offering special conditions.
Targeted professionals usually are:
- Medical professionals: doctors, dentists, veterinarians (vets), optometrists and pharmacist.
- Legal professionals.