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Despite earning a higher than average income, as a medical consultant you might be experiencing some difficulty in securing a mortgage. Medical consultants are likely to pursue more expensive property, with larger monthly payments and more stamp duty to pay.
This may cause complications when trying to provide evidence of financial stability, especially if you’ve had a private source of income or if you’re new to your position. Working in the NHS, you may face a number of similar problems. Many mortgage lenders on the high street don’t empathise with your circumstances or make concessions for your application.
At Mortgages for Doctors we are different.
Having committed over 20 years to helping medical consultants attain their mortgage, we fully understand all of the challenges you face when applying.
By leveraging our expertise and connecting you to a special network of lenders that work exclusively with medical professionals, we will help you secure the best mortgage possible.
Working with a mortgage broker will dramatically increase your chances of getting the mortgage solution you want.
Our processes are designed to remove the headaches, ease the journey and minimise the stress. We do all of the hard work. Our mortgage brokers will provide you with:
Ramesh is a Consultant, with an employed contract with the NHS and private practice income.
He wanted to purchase a property that required flexibility with affordability from the lender. We negotiated with the lender that he could use 100% of his NHS income and also 100% of his latest year's self-employed income from his private work.
The flexibility to use latest year self employed was especially useful for Ramesh as his income had increased substantially from the previous year.
Many lenders will use an average but the lender we used offered the flexibility to use the latest figure which increased Ramesh’s borrowing capacity.
If you’re a medical consultant that wants to speak to a mortgage broker for expert advice, contact us today for a free consultation.
