Mortgage Broker for Lawyers

Tailored Solutions for Legal Professionals

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Why lawyers choose Get a Better Rate

Legal professionals should feel confident that their mortgage broker understands their specific needs and the position they’re operating from. Get a Better Rate helps professionals obtain industry-specific loans, including lawyer mortgage brokerage services. We guide you through every step of the banking process, specific to the legal industry, so you can get a home loan suited to you.

Lawyers choose Get a Better Rate because of our specialised industry knowledge. We understand the specific support they require. Unlike major banks that limit options to internal products, we provide access to a wide array of lenders for home loans.

With our expertise and support, you don't have to settle for a generic home loan. We'll lead you to a personalised mortgage solution tailored to your needs.

Benefits of using a specialised mortgage broker for lawyers

Lawyers' demanding workloads leave them with minimal time to research loan options, whether for buying a home or funding a new firm. Legal professionals have unique financial requirements that major lenders may not always accommodate.

For this reason, engaging a mortgage broker offers substantial advantages to lawyers. These experts understand the unique financial demands of legal practitioners and can efficiently help them save time and money.

The key advantages of engaging lawyer mortgage brokerage services include:

  • Lenders Mortgage Insurance (LMI) wavier and higher borrowing capacity

  • Lower Interest Rates

  • Waived annual fees

  • Free up time

  • Ongoing support

  • Exclusive cash back offers

  • Diverse range of loan products available

Hence, why not save time and money by hiring a mortgage broker who can connect you with lenders offering home loans tailored to legal professionals?

Our mortgage services for legal professionals

For legal professionals seeking specialised home loans, choose a leading mortgage broker like top broker, Get a Better Rate in Sydney’s CBD

We offer tailored mortgage services for lawyers, considering their unique positions.

Waived Lenders Mortgage Insurance (LMI)and higher borrowing capacity

Due to the perceived low risk of legal professionals, legal home loans offer the exclusive benefit of waived LMI for those who apply for the specialised product. This means lawyers can borrow up to 100% of their home loan value without paying the lender's mortgage insurance, allowing them to purchase property with a smaller deposit.

When you do not have to pay the lender's mortgage insurance, you can save a lot on your home loan fees throughout the loan's lifetime.

Lower interest rates

Due to lawyers' favourable financial positions, our mortgage brokers may be able to negotiate better interest rates and other discounts on your behalf. These rates tend to be lower than a lender's advertised rate, framing it as an exclusive offer only a legal professional can take advantage of.

Waived annual fees

Banks and lenders tend to be confident in legal professionals' financial security and high incomes. This means that many lenders offer to cover annual loan fees for home loans above a certain amount. 

Consequently, this can save you a significant amount of money throughout your home loan.

Free up time

Mortgage brokers save you time as they work on finding relevant home loans and comparing them so that you have more time for the things you love.

Ongoing support from mortgage experts

Legal professionals will be guided through the home loan process by an experienced mortgage broker for lawyers. This includes the time-consuming work of finding home loans for lawyers and comparing products on your behalf.

Your broker will do their best to secure the highest borrowing capacity possible, even as they search for competitive interest rates and loan terms. When you trust a broker to take the initiative, the usual stress of finding a home loan that suits your personal and financial situation is removed.

At Get a Better Rate, we acknowledge that lawyers and other legal professionals are uniquely positioned regarding their finances and work capacity. That is why Get a Better Rate has tailored its mortgage services to support such unique needs through legal loan packages. Contact us today to start the process.

Exclusive cash back offers

Whether you are a first home buyer looking for a mortgage, or a legal professional looking to refinance or renovate your existing home, you could receive exclusive cash-back offers from your broker.

Choose to get cash back on top of your desired home loan packages to save more time and money.

Our tailored process for mortgages for lawyers

Unlike typical lenders, Get a Better Rate's mortgage brokers take a personalised, hands-on approach to our clients that is demonstrated through our  tailored process for legal professionals seeking home loans: 

Step 1: Initial consultation

Get a Better Rate provides free consultations for borrowers interested in our mortgage broking services. During this initial meeting, our expert brokers will personally guide you through the details of home loans for legal professionals and take the time to understand your specific needs and preferences. 

Subsequent consultations with our team members are also offered free of charge. Mortgage brokers typically earn commissions from lenders, which means our services and your loan application will cover the cost of the expert guidance you receive.

Discover more about how mortgage brokers are compensated and the calculation of commissions.

Step 2: Choose your legal home loan

Once our brokers know your home loan specifications, they will find relevant home loans that meet your criteria. We have an extensive panel of lenders, including ANZ or ING.

Our brokers will then compare interest rates, loan terms, and repayment periods to find the most competitive options in the market. We do all the heavy lifting so that you can have more time to focus on what you love.

From there, you need only choose your desired home loan from your broker's options.

Step 3: Loan application

Get a Better Rate offers continuous support throughout your home loan application process, ensuring you are guided by our brokers at every step of your journey. Simply bring along the required personal identification documents:

  • Proof of identity

    • Primary ID: passport, photo ID, or driver's license

    • Secondary ID: birth certificate, citizenship certificate, Medicare card, health care card, recent bill with name and address

  • Proof of income: recent payslips or bank statements from the last 6 months

  • For self-employed individuals: recent personal and business tax returns, plus tax assessment notices from the past 2 years

  • Proof of financial assets: properties, superannuation, savings, shares, or vehicle ownership

  • Proof of financial liabilities: debt, ongoing loans, or credit card limits

  • Summary of ongoing living expenses: utility bills, education and/or childcare costs, transport expenses, insurance, etc.

With Get a Better Rate's ongoing support, our brokers will ensure you receive expert advice and guidance throughout the entire application process.

Step 4: Approval and settlement

Once you submit your loan application, it is in the hands of your chosen lender for approval. They will evaluate your documents, credit score, and borrowing risk against your selected home loan. 

If approved, you will then move to settlement, where the lender will verify that everything is for your property purchase or refinancing to proceed.

Step 5: Enjoy your new home loan

After settlement has been reached, you can enjoy the benefits of your new loan, like interest rate discounts and no LMI through Get a Better Rate! Be sure to get in touch and start the process today.

Meet our principal mortgage broker: Peter Hammond

Get a Better Rate founder and principal mortgage broker Peter Hammond has worked with leading Australian financial institutions for over twenty years. His experience extends to reputable brands such as Westpac, Macquarie Bank, and Aussie Home Loans.

Peter has used this experience to create Get a Better Rate from the ground up. Over the past seven years, he has led with a customer-first mentality to ensure that each client has gotten a rate and loan best suited to their needs.

Peter has acknowledged that the legal industry is critical to Australia's economy, society, and workforce. That is why he has dedicated a significant portion of Get a Better Rate's efforts towards offering tailored home loans for lawyers. You can contact Peter to learn more about how to apply for a home loan for lawyers and what kind of everyday low-interest rates you can enjoy with our services.

Get in touch: Start your journey today for free

If you are ready to start your journey towards a tailored home loan that supports your legal profession, look no further than Get a Better Rate! We offer a free initial consultation to align with your financial values and needs, placing you first throughout the search for the perfect home loan.

Whether you are looking to build your property portfolio with a new investment property, buy your first home, or refinance to a new loan with a more competitive interest rate, we can help you reach your goal. With the added benefits of not having to pay lenders mortgage insurance, connecting with lenders that focus on legal professions, and so many more, there is no reason to fear taking that first step towards moving up the property ladder.

Contact us online with a form application or call principal broker Peter Hammond at 0420 991 404 to set up your free consultation.

FAQs

What are the benefits of a lawyer's home loan?

The main benefits of a lawyer’s home loan are the discounted interest rates, the waived LMI, the high borrowing capacity, and the lack of annual fees. Your mortgage broker or lender may be able to offer additional and unique benefits when you use their services.

How can a mortgage broker help lawyers secure a favourable mortgage?

Mortgage brokers can help lawyers save time and money by comparing and researching home loans and finding the most competitive loan packages.

Additionally, brokers can help lawyers borrow up to 100% of the property without paying LMI.

Do lawyers get cheaper home loans?

Lawyers can obtain cheaper home loans by receiving interest rate discounts and waived LMI. Some lenders may waive annual fees, lowering the cost of taking out a loan even further.

Are lawyers exempt from Lenders Mortgage Insurance (LMI)?

Since lawyers are considered 'low-risk' borrowers, many lenders offer exclusive deals to waive LMI costs. This enables lawyers to borrow as high as 95-100% of the property value, meaning that some lawyers can enjoy cheaper home loans due to their exemption from LMI.

How much deposit do lawyers need?

Typically, borrowers are expected to pay a deposit of around 20% of the property's value, lest they pay LMI. However, lawyers can usually deposit only 5-10% without paying the LMI premium. Some lenders may even allow no deposit since lawyers are considered so low-risk!