Professionals

If you are a qualified professional and you want to use your occupation to get a competitive mortgage

We can find you the best lender for your situation to get you the borrowing you deserve at a price you can afford

Try our online mortgage calculator tool to find out how much you could borrow - it only takes five minutes!

Professional mortgages

Why choose us

As a specialist mortgage broker for qualified professionals, Cleerly has the experience and expertise to help you turn your professional skills and income into homeownership. Fill in our online form to request a call back or speak to a member of the team today on 02394 212912.

Introduction


Which professions qualify for professional mortgages?

Professional mortgages use lending criteria that is suited to qualified professionals who work in specific, defined occupations. This criteria will usually offer favourable assessment conditions for the mortgage, such as enhanced lending multiples, or smaller deposit requirements.

Lenders offer these advantages because certain occupations have a steady increase in income over time, and require training and qualifications to carry out the role. Job security also tends to be high. This means increased affordability and less likelihood that the occupation will change, in turn meaning reduced risk for the lender.

Typical occupations that qualify for professional mortgages are:

  • Medical doctors
  • Lawyers (including solicitors and barristers)
  • Dentists
  • Veterinarians
  • Accountants (in practice and industry)
  • Engineers
  • Architects
  • Surveyors
  • Optometrists
  • Pharmacists
  • Teachers
  • Pilots

Different lenders that cater for professionals have varying lists of qualifying professionals, so it is essential to seek advice about which lenders can help you to achieve your mortgage goals.

What to consider


How will income be assessed for professionals?

For individuals employed in professional occupations, there's the potential to qualify for higher income multiples. This is advantageous as it directly impacts the maximum amount you could borrow. However, personal financial situations, including factors such as credit history and score, play a crucial role in determining your eligibility for these higher income multiples. Instances of adverse credit may limit borrowing options, potentially leading to a lower income multiple.

Typically, mortgage providers are prepared to offer loans up to 5.5 times your annual income if you work in a qualifying occupation. In certain cases, one or two lenders may consider lending up to 6.5 times your annual salary, though such offers usually require a larger deposit than the standard minimum of 5% or 10%.

Professionals with higher earnings, typically over £50K, may find that lenders are more flexible, offering larger mortgage amounts. This flexibility is particularly evident for individuals earning in excess of £100K per year, where lenders exercise the most discretion about multiples and affordasbility assessment.

There is a lot to navigate on your own if you are looking for an idea of maximum borrowing. Cleerly can help to source the best lender for each professional's individual circumstances.

What to consider


Do mortgage lenders give better rates to professionals?

Some mortgage lenders will offer professionals slightly more favourable interest rates, or lower mortgage set-up fees, such as reduced or free arrangement fees or a free property valuation. It is important to consider the most important factors about your requirements though, before becoming fixated on the interest rate alone. Whilst the rate is an important factor to consider, if you are a professional who is newly qualified and still on a modest income, the amount that the lender can actually lend may be a more important factor.

Why choose Cleerly as your broker for a professional mortgage?

If you are looking for a mortgage broker who understands how to get the best mortgage for your needs as a professional, look no further than Cleerly.

With over fifteen years’ experience and expertise, our dedicated team of professional mortgage consultants know how to present your mortgage or remortgage application to lenders with the highest chance of approval, highlighting your experience, qualifications and career path in your profession, to secure the best deals on the market. We’ll take care of the paperwork while you can have peace of mind that your application is in the best possible hands.

Ready to get started?

Whether you’re looking to get the ball rolling on a mortgage application or you’re just after some friendly advice, don’t hesitate to get in touch with us.

To find out more about mortgage options for professionals, simply call us on 02394 212912 or request a call back.

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