Professional mortgages are aimed at people in certain professions such as doctors and NHS workers, teachers, police, company directors and many more. Professional mortgages tend to offer more favourable terms in comparison to standard residential mortgages and they have a whole host of benefits to offer the individual.
They can allow eligible professionals to borrow a larger percentage of the property’s value and also take into account their likely future income when calculating affordability.
The logic behind professional mortgages is that individuals in certain professions tend to have fairly predictable career progression, job security and reliable income, so they pose less of a risk to a lender.
If you are eligible for a professional mortgage, it can be an attractive way to borrow. You may also be able to benefit from:
- Lower interest rates
- Borrowing more on a lower income as your potential future earnings will be taken into account
- Borrowing a higher percent of your property’s value (LTV)
- Getting a mortgage with a smaller deposit
- Specialist underwrites who have experience in your profession, helping to deal with issues such as unpredictable income for free-earners
Doctor and NHS Mortgages
As a specialist in your field, in order to get you the best mortgage deal, you need someone in the same league as you to help. High street banks do not understand your banded remuneration packages, which can result in a misinterpretation of your gross income and can cause them to grant you a lesser mortgage. However, we have a strong understanding of your career and because of this, we can help you access bespoke deals on your behalf, so you don’t waste any of your valuable time speaking to the wrong people about the wrong deals.
We understand that your career is difficult enough as it is, the process of obtaining a mortgage shouldn’t be equally as difficult. Which is why we help provide police and serving officers. Due to your career as a police officer, your hours may make it difficult for you to take the time to find the perfect mortgage for your needs and circumstances. However, we can take away all the hassle for you and find the ideal mortgage that suits you best, saving you the time and effort.
We have access to loads of mortgage deals that are not available with high street banks, so let us do the hard work for you.
Company Directors Mortgages
Company directors are usually advised by their accountants to take a base salary up to the tax-free threshold and then draw dividends for any further income. However, this poses problems when it comes to obtaining a mortgage, as lenders will only consider the income that is actually drawn from the business. However, we understand your circumstances and we know what needs to be done to get you the best mortgage deal.
Also, as a company director, it goes without saying that you’ll have a lot on your plate. Which is why you might not have hours to waste trying to find the perfect mortgage for you. But we can take care of that for you and make sure you get the right mortgage, without you even having to lift a finger – so it’s one less thing to worry about.