Frequently Asked Questions
Why would I choose to finance with Medfin?
Medfin removes the hurdles placed in front of you by other financiers. We understand that your time is important, so our experienced Relationship Managers come to you with simple, no fuss, finance solutions.
For Medfin clients, response time is quick and approvals are fast1. We know how to deliver the high level of service that healthcare professionals require.
Medfin is an Australian leader in finance for healthcare professionals.
How much can I borrow?
The answer to this question depends on the amount of finance you need and what it is needed for. At Medfin, it’s possible to borrow up to 100% of the purchase price of your practice property, practice purchase, practice set up and refurbishment, equipment and motor vehicle.
Please contact your Medfin Relationship Manager for further information.
Does Medfin only do leasing?
Medfin commenced business in 1990, offering lease finance to healthcare professionals for equipment and motor vehicles. Now, more than 20 years later, we have expanded our product range to offer a full range of finance solutions for your:
- Practice property
- Practice purchase
- Cash flow
- Motor vehicle
- Income protection and life insurance
- Residential investment property
- Financial planning
- Business banking
Is Medfin more expensive than other finance companies?
Although Medfin offers high quality, personal service, you will find that our repayments and fees are always competitive, because we offer finance solutions exclusively to healthcare professionals.
To find our more, contact your local Medfin Relationship Manager on 1300 361 122.
What’s the difference between a Lease, Hire Purchase and Chattel Mortgage/Equipment Loan?
|Lease||Medfin buys the equipment and you make lease payments .
A Lease is for an agreed amount and term.
|Commercial Hire Purchase||Medfin buys the equipment and you make loan repayments, purchasing it progressively from us.
When you have made your final repayment, you own the equipment.
|You buy the equipment with a loan from Medfin.
We take a mortgage over the equipment.
When your last loan payment is made, Medfin releases the mortgage.
How can Medfin help if I am facing financial difficulties?
We understand that life can take unexpected turns. If you are finding your loan repayments difficult to make, we are here to offer you more help, more often.
The best way to let us know about your situation is to call Medfin Client Services on 1300 361 122, from 8.30am – 5.30pm Mon-Fri (AEST), and they will direct your call to our specialist team who will be able to assess your situation and help you with options to support you through this period.
How we can help?
If you have loans that you are struggling to repay, read about redraws and repayment holidays.
It might also be time to think about insuring yourself against unforeseen events that could affect you or your family.
Contacts outside of Medfin
Each state has an organisation you can contact for help and advice.
You may also want to look at the Australian Securities & Investment Commissions FIDO website for practical tips and useful links to help you through these difficult financial times.
The best way to let us know about your situation is to call Medfin Client Services on 1300 361 122 from 8.30am – 5.30pm Mon-Fri (AEST) and they will direct your call to our specialist team who will be able to assess your situation and help you with options to support you through this period.