- Pupils & Tenants
- Income Projections Considered
- Limited Track Record
- From 5% Deposit
- Aged Debt Considered
- Common Sense Underwriting
Mortgages for Barristers
Barristers typically contact us at RockHopper in one of three stages of their career:
- Pupil Barristers – first, second or third six
- New tenants
- Established Barristers
Typically, clients contacting us during their pupillage tell us they are frustrated that they may not be able to get a mortgage, as their income is usually not guaranteed beyond their pupillage period. They may have spoken to their Bank who has told them they will need to wait until they have at least 1 to 2 years full accounts as a Tenant.Read More >>
We can look to assist Pupil Barristers obtain a mortgage and will work with Senior Clerks within Chambers to obtain an income projection and career plan to present to a lender.
We often work with new tenants who have a limited income track record. They may have approached their current Bank who has informed them they require at least 1 to 2 years track record. This can often make the difference to buying the perfect family home or having to wait a few years and rent in the meantime.
Established Barristers typically tell us that, although they have very good receipts, the mortgage lenders they may have approached will insist on using their net income when assessing a mortgage which will involve deducting Chamber’s rent, professional subscriptions and so on. Additionally, they tell us that their Aged Debt is not taken into account by the lenders they have approached.
At RockHopper we can look to assess borrowing on a Barristers total receipts or turnover which can often make the difference between getting the mortgage amount required or not.
We appreciate everyone’s particular situation is unique, which is why we look at every enquiry on a case by case basis.
If you would like to see whether we can help you with a mortgage, do get in touch for a free no obligation quotation.