Mortgages for Professionals
In some professions, you not only have your qualifications and a structured career path, you also have some big advantages when you’re looking for a mortgage to purchase or remortgage a property. Considering the amount of time and money you’ve invested in your education and your training, it’s only fair that you get rewarded when it comes to mortgage advice.
Professional mortgages are designed for individuals who are fully qualified, registered and practising in your profession and a member of your professional association.
A ‘professional mortgage’ isn’t really a type of product in its own right, but a term used when somebody who’s classed as a ‘professional’ is applying for a mortgage and a lender is offering them exclusive rates or a bespoke deal. Technically speaking, professionals can apply for the same mortgage products as everybody else, but some mortgage providers are known to offer special treatment to them. This is because professionals are often classed as ‘lower risk’ borrowers, so some lenders might be more flexible with their eligibility criteria or lenient with their deposit requirements.
Perks of mortgages for professionals include:
Higher Income Multiples of between 5.5 and 6 x income
Superior rates and lower fees
Higher Loan To Value with lower deposit requirement
Increased flexibility of underwriting including less income proof requirement
Increased options for self-employed professionals including working off of projections
Apex Financial Consultants specialise in securing mortgages for professionals. We secure mortgages for all types of professionals, not just academic professionals. The careers which usually allow you to apply for a professional mortgage range from Medical professionals such as Doctors, Dentists, Vets, Pharmacists and Optometrists, Key workers such as Teachers, Social workers, Police to other professionals such as Accountants, Actuaries, Architects, Engineers, Investment bankers, Pilots, Solicitors and Surveyors.