Are you a doctor looking for mortgage advice?
Doctors and medical professionals can sometimes face some challenges when it comes to applying for a mortgage. With the advice from our mortgage brokers at Move and Mortgage, any problems could be a thing of the past.
We have worked with hundreds of doctors and medical professionals to not only find the right mortgage for them, but to potentially help them afford their dream home too.
This is why we know that there could be challenges along the way. Let’s look at some of these challenges below.
High levels of student debt
As you know, training to become a doctor or medical professional is time consuming and can be very expensive. This often means that you will have high levels of student debt which can be picked up by a mortgage lender.
All debts and repayments can affect how much you can borrow towards a home. Don’t worry though, there are plenty of lenders out there who do understand your situation and we can point you in the direction of some of the most suitable for you.
Complex income sources
If you are working in a medical practice then these are often set up in partnerships. This could mean that income is not regular and can come in the form of dividends or ad-hoc drawings.
If you also do locum work, or work across both the NHS and private practices, your varied hours and income may also prove difficult to find the right lender.
Whilst many lenders prefer to see a regular source of similar income, there are mortgage lenders out there who don’t. Let us help you to find out who these are.
Short term contracts
You may have to work on shot term contracts as a doctor, particularly when you are just starting out. You need a lender who will understand the nature of this work.
A history of moving addresses
Doctors often have to move around, particularly when they are undergoing training. Lenders prefer to see that you have lived at the same address for a long period of time and this can also affect your credit score.
Again, some lenders are more open to this, and for us it is about putting you with those right lenders.
Ready to receive mortgage advice as a doctor?
Talk to us by calling 07969 534 746 or by using the form below to get in touch.
About us as mortgage brokers
Our brokers have over 25 years experience working to find the best mortgage deals for clients. We only ever have your interests at heart and are not affiliated with any particular lender. This means we can compare the whole of the mortgage market to find one of the best deals for you.
We want the whole application process to be as smooth as possible for you. This is why we take a few simple details and then do all the hard work for you. From finding a great mortgage product which matches your financial circumstances, right up through completing the paper work and arranging everything with your lender.
Since you are the customer, your needs will always take priority. We have hundreds of happy clients who have reviewed our services across the web and beyond! This is also why our clients keep coming back for remortgages and life cover.
The mortgage brokers who advise you are fully regulated by the Financial Conduct Authority (FCA) for your piece of mind. This means that they’ll only ever advise with your interests at heart.