- New Trainee Contracts
- Income Projections Considered
- From 5% Deposit
- Locum Income Considered
- Multiple Income Sources
- Guarantors
- Newly Self Employed Considered
Mortgages for Doctors
Doctors who approach us to help them with a mortgage frequently tell us that they may have struggled to obtain a mortgage for a number of reasons. They may be newly qualified, in training as a Junior Doctor, a new partner in a general practice or have multiple sources of income such as NHS, self employed private practice and/or locum income.
They may have already asked their Bank for a mortgage and been rejected, either because they will not take all of their income sources into account or may have asked for a longer track record – often a minimum of one or two years. This can often result in a lower mortgage amount being offered, which requires a higher deposit. As a result, it can mean that the proposed property purchase is out of the question.
Additionally, for Junior doctors, some lenders may not consider them for a mortgage until they have completed their postgraduate training and become a consultant or a GP.
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