Legal Professionals

We understand that being a lawyer is a high pressure, highly skilled and demanding role. In fact, 3 of our staff completed law degrees before joining SF Capital. That’s why our goal is to make it straightforward for lawyers to apply for finance and to put time back into their day. We have helped many legal professionals finance their dream home, build their investment portfolios, saving them time and money along the way.

Helping Lawyers Succeed with Finance

What is the maximum LVR I can borrow as a lawyer?

Upon meeting certain criteria, Lawyers are able to borrow at a 90% LVR without incurring Lenders Mortgage Insurance (LMI). Banks usually label this benefit an “Industry Professional Offer”.

What is Lenders Mortgage Insurance (LMI)?

Lenders Mortgage Insurance (LMI) is a one-off fee that you pay to an insurance provider for borrowing above a certain Loan to Value Ratio (LVR). Typically this LVR is 80%. This premium is for the Bank’s benefit where, in the worst case, they need to sell your property and they make a loss on the loan. The Mortgage Insurer then protects the bank by reimbursing them on the loss.

Why do banks waive LMI for certain professionals?

Lawyers with the relevant professional experience, qualifications and income are viewed by banks as higher and more stable income earners, and therefore having less risk of default than other professions.Lenders Mortgage Insurance (LMI) is a one-off fee that you pay to an insurance provider for borrowing above a certain Loan to Value Ratio (LVR). Typically this LVR is 80%. This premium is for the Bank’s benefit where, in the worst case, they need to sell your property and they make a loss on the loan. The Mortgage Insurer then protects the bank by reimbursing them on the loss.

What if I am not on this list of specialisations?

If your job title is not on the list, you still may be eligible for LMI waiver if it is a small variation or you can establish that you still do the same work as any of the above. For example, if your title is Associate, Senior Associate or Special Counsel, you will still be eligible.

What benefits are there to Lawyers if I want to start or I run my own practice or buy into a Barrister’s Chambers.

The benefits of a higher LVR also extend to Lawyers in Commercial Lending. Please contact us if you would like to make a Commercial enquiry in relation to financing your own legal practice or any related expenses. This includes financing for fit-outs and motor vehicles.

WHO TO TALK TO

Need professional advice on Legal Professionals?
These are experts to get in touch with.

Tommy Lim
Managing Director
Priscilla Tan
Operations Manager
Luke Xie
Finance Broker
Will Li
Commercial Director