What is a Professional Mortgage?
If you work in certain professional industries, many lenders consider these to be safe, secure forms of employment. It means that you are probably on a stable career path and lenders like the predictability of this.
As a result, it can mean that lenders put advantageous criteria together for those working in certain industries. In short, it means that – if you qualify – you might be able to borrow slightly more.
Some lenders call these “Professional Mortgages”. Other lenders have specific criteria for specific professions or flexible underwriting.
The advantages of a professional mortgage might include access to:
- Higher income multiples
- Higher loan-to-value,
- More flexible lending criteria and bespoke underwriting
- Potentially lower rates of interest.
Some of the high street banks offer Professional Mortgages. But you may find your circumstances mean that specialist banks might be more appropriate.
We know which lenders have criteria for professional industries. We have access to high street lenders and smaller, specialist lenders who provide mortgages to professionals.
We also know what evidence you need to provide the lender in order to meet their criteria. At Your Mortgage Expert, we will help you compile that evidence and package your case in order to maximise your chances of approval.
By tapping into our expertise and using our service, we can take the stress and hassle out of looking for a mortgage. We know you’re busy, so we have flexible appointments to fit around your schedule.
Contact us today for Mortgage Advice for Professionals.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
Which industries do lenders consider as professionals?
Whether it’s for a professional mortgage or for favourable criteria, most lenders have specific guidance for who qualifies. Generally, the following count as professional industries for mortgage lenders:
- Dentists
- Doctors
- Police Officers
- Pilots
- Officers in the armed forces
- Architects
- Pharmacists
- Teachers
- Vets
- Accountants
- Solicitors
- Surveyors
The lender might ask for evidence of the qualifications you hold. And be working in the profession you hold the qualification in.
Certain lenders will also accept applicants that are in trainee roles, such as trainee solicitors and surveyors.
If your profession is not listed about, you may also qualify for a professional mortgage. If you feel that your occupation may meet the criteria, please contact us to discuss your mortgage options.
Of course, you will also need to meet other eligibility criteria. This includes affordability, credit checks and that you are who you say you are.
As an experienced mortgage adviser, we can help you pull together everything you need. We can also recommend lenders who will lend to you based on your circumstances. We will do all the calculations to make a the most suitable recommendation for you.
Contact us for mortgage advice for professionals.
Why choose us?
Our friendly, experienced team is based in the heart of Salisbury, Wiltshire. But we can help you no matter where you live in the UK. We can carry out the mortgage process via telephone, email and video call.
Our team has:
- Over 80 years of experience in the mortgage and protection industry
- Close relationships with high street and specialist lenders
- We have over 100 five-star reviews on Google
- Have helped hundreds of professional people purchase properties
How we work:
- Personalised, hard working service
- Search 1000s of deals from multiple lenders
- Detailed research to ensure you save money
- Take care of the paperwork to minimise stress
- By your side from application to completion
- The experience to get a good result for you
Contact us today for Mortgage Advice for Professionals and see how we can help you get a successful outcome.
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Email Dan AllenDan Allen - Mortgage Adviser
Dan Allen has worked with mortgages for over 10 years. He takes time to understand different lender criteria. His wealth of knowledge means he will know which lenders will work for you situation. -
Email Dan HarrisDan Harris - Mortgage Adviser
Dan started working in the mortgage industry in 2004. Since then, he has helped lots of Professional People. Dan has great attention to detail and will do the hard work to ensure you get the best recommendation.