More banks and building societies are offering mortgages for professionals as they look to provide more finance for qualified professionals. This comprises mortgages for medical professionals like doctors and dentists to professional mortgages for accountants, lawyers and teachers.
These lenders provide generous income multiples and larger loans, as well as more lenient acceptance criteria.
Some banks and building societies offer 5.5 times salary multiples and lower deposit rates. Many professionals often have irregular earnings or income from several sources. For example, a doctor may receive income from a mixture of regular, locum and private practice work.
Mortgages for Professionals
You are typically considered a professional if you are over 21, fully qualified and registered as an:
- Accountant
- Actuary
- Architect
- Barrister
- Dentist
- Engineer
- Medical doctor
- Optometrist
- Pharmacist
- Solicitor
- Surveyor
- Teacher
- Vet
Our mortgage advisors for professionals at Sturgess Mortgage Solutions can arrange mortgages for other professions, such as those working on short term contracts. This income is usually based on contracted daily pay rates rather than figures shown in their last two years of accounts. Some professional mortgages have offset facilities enabling borrowers to reduce the amount of interest they pay.
Call Sturgess Mortgage Solutions, the best mortgage advisor Swansea offers, on 01792 399155 and speak to a Professional Mortgage Specialist.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up with repayments on your mortgage.
