Commercial property loans for nurses: what lenders offer

Employed nurses are assessed like other PAYG borrowers, with the usual questions about shift allowances, overtime and agency work. Most lenders accept penalty rates and allowances at 80 to 100 per cent where they are regular and shown on payslips or group certificates over twelve months. Agency nurses are treated as casual or contract income and need a longer history. Nurse practitioners or registered nurses running their own clinic, cosmetic injectables business or home care service are self-employed and assessed on business financials.

A nurse-led clinic buying its own rooms is an owner-occupied commercial purchase. Lenders assess the clinic's financials, the lease or the rent it currently pays, and the property. LVR is 65 to 80 per cent depending on the lender and the strength of the business, over 15 to 25 year terms. Some lenders have healthcare business units that treat nurse-led clinics more favourably than a generic small business, particularly where the clinic has consistent Medicare or private billing history.

A nurse buying a leased commercial property as an investment is assessed on the lease and the property, at standard commercial LVRs. Their employment income supports serviceability alongside the rent. There is no professional uplift, but there is no penalty either.

Several lenders offer healthcare workers, including nurses, LMI discounts or waivers on residential lending up to 85 or 90 per cent, or reduced fees. These come and go and are worth asking about if the purchase is a home or residential investment rather than commercial property. A specialist will know which lenders are running them.