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Author: Elliott Culley - Director & Mortgage Adviser of Switch Mortgage Finance
What are mortgages for professionals?
Professional mortgages offer a unique opportunity for qualified individuals to secure favourable financing terms that reflect their career potential.
If you’re a UK professional looking to purchase a home, exploring a professional mortgage options can lead you to a tailored solution that aligns with your career trajectory and financial aspirations.
A professional mortgage is designed specifically for individuals like you – qualified professionals who have worked hard to establish their careers. This type of mortgage can offer certain benefits such as a higher level of borrowing, preferential rates, or more flexibility on criteria.
Who Qualifies for a mortgage for professionals?
Mortgage lenders generally consider individuals who hold recognized professional qualifications to be eligible for professional mortgages. This includes a wide range of careers, such as:
- Doctors
- Dentists
- Solicitors
- Barrister
- Teachers
- Accountants
- Vets
- Engineers
- Architects
What are mortgages for professionals?
Professional mortgages offer a unique opportunity for qualified individuals to secure favourable financing terms that reflect their career potential.
If you’re a UK professional looking to purchase a home, exploring a professional mortgage options can lead you to a tailored solution that aligns with your career trajectory and financial aspirations.
A professional mortgage is designed specifically for individuals like you – qualified professionals who have worked hard to establish their careers. This type of mortgage can offer certain benefits such as a higher level of borrowing, preferential rates, or more flexibility on criteria.
Who Qualifies for a mortgage for professionals?
Mortgage lenders generally consider individuals who hold recognized professional qualifications to be eligible for professional mortgages. This includes a wide range of careers, such as:
- Doctors
- Dentists
- Solicitors
- Barrister
- Teachers
- Accountants
- Vets
- Engineers
- Architects
Speak to an Expert!
Contact us today for expert advice and guidance on your unique mortgage and property needs. We will work with you on a one-on-one to basis to help you find the right solution for your needs.
With our experience you can rest assured that you are in good hands when it comes to securing the financing you need for your property.
How do you qualify for a professional mortgage?
To qualify for a professional mortgage, you often need to be a member of a recognized professional registered body associated with your field. A lender will check this as part of the application.How much can I borrow as a professional?
Professional mortgages can often offer enhanced lending multiples of up to 5.5x your annual income. If you are a newly qualified professional some mortgage lenders often take into account your potential future earnings rather than just your current income. This means you might be able to borrow a larger amount.Do professional mortgages offer better rates?
It is not always the case, but some lender do sometimes offer a cheaper better mortgage rate to you. It is more likely that lenders will allow you access to enhanced borrowing capability and more flexibly with their standard criteria.
Deposit Requirements for Professional Mortgages
As a professional you will be able to access mortgages with as little as 5% deposit. However, the more deposit you have the lower the rate will be. If you are looking at a new build property or flat you will need at least a 10% deposit.Mortgages for Professionals with Bad Credit
Yes, it is possible to get a professional mortgage even with bad credit. It would completely depend on the severity of the bad credit. There are some specialist lenders that will consider you, however you will need it likely you will need to provide a larger deposit. It would completely depend on the severity of the bad credit, and your current position. It is always worth enquiring to see what your options are.Why Choose Switch to Help You?
Whether purchasing or remortgaging, you’ll want access to the best products on the market. We have a proven track record of helping professional clients and will be able to assist you with your mortgage needs.Why Switch Mortgage Finance
- Raising The standards of financial advice
- Making financial advice accessible to all
- Trusted & stress-free financial advice
- Friendly, personable advisors