Mortgage solutions for optometrists
As an optometrist, we know lenders can sometimes struggle to assess your income, which can give rise to concerns about long-term affordability for a mortgage. That's where our expertise comes in.
We'll work closely with you to gather the right evidence and documentation to demonstrate your experience to validate you will have stable, reliable earnings - whether you're employed, locum or a practice owner. Our strong relationships with lenders mean we can find the perfect mortgage solution at best possible rate.
Your financial situation is unique, and Cleerly’s mortgage experts treat it that way. Whether you're a newly qualified optometrist or have years of experience, Cleerly’s mortgage consultants will take the time to understand your individual needs and goals, and more importantly, be able to present your income in the right way.
An optometrist can be therefore be confident that they're getting the borrowing they deserve and there are no affordability concerns.
Whether you are employed by a practice or working as a locum optometrist, traditional lenders may not fully appreciate the nuances of your income structure and ongoing affordability. That's where specialised mortgage expertise comes in, ensuring you get the best possible borrowing terms and enhanced income multiples as a professional.
A skilled mortgage broker can consider your full income potential and help you secure a mortgage that aligns with your long-term financial goals.
Let's explore the mortgage options designed with optometrists like you in mind - including contractor mortgages for independent professionals. Cleerly is here to help you navigate the process and find the right solution for your needs.
Getting in touch with our mortgage specialists is easy – you can tell us a little bit about your background and receive quotes straight to your inbox using our quick quote form, compare potential mortgages using our online mortgage calculator, or just pick up the phone and give us a ring on 02394 212912.
Introduction
What is an optometrist mortgage?
An optometrist mortgage is a type of mortgage that has been specifically designed for professionals who have high job security and progressive eanrings over time as experience builds. Cleerly can obtain optometrist mortgages for professionals in a variety of roles and work arrangements, including: -
- Employed optometrists, including those with elements of variable income
- Locum optometrists, whether paid as self-employed or via an umbrella company
- Practice owners, who are limited company directors who may draw profits via dividends or even retain profit in their business
Those wanting to apply for an optometrist mortgage should have a degree in optometry, and be practising and registered with the General Optical Council. They should also be working in a recognisable optomoetry role.
An optometrist mortgage can be used for both purchasing and remortgaging purposes.
Eligibility
How to get a mortgage as an optometrist
Given the challenges in getting lenders to understand how you work, it is important that a specialist broker like Cleerly is used to manage the lender. Through a broker, you will have access to both residential and buy-to-let mortgages, access to the whole market and therefore competitive borrowing rates, and both offset and interest-only mortgages if you need flexibility around how you earn.
Once we’ve helped you to find a mortgage that best suits your financial situation, we’ll put together an extensive, detailed application to send to potential lenders. To do this, we’ll need documentation like:
- Payslips and P60
- Umbrella company payslips
- SA302 tax calculations
- Limited company trading accounts
- Bank statements
- Potentially a letter from an accountant or umbrella company to provide an earnings projection
The document you need to provide will depend on how you are paid, and how long you've been paid in this way. Your Cleerly Mortgage Consultant will liaise with relevant lenders to ensure your income is assessed in the most advantageous way for you to achieve your goals.
First-time buyers
Getting an optometrist mortgage as a first-time buyer
Through a specialist optometrist mortgage broker, optometrists can access mortgages with a 5% deposit, helping those who may have only been practicing for a year or so to buy a property that would have been out of reach with high street banks and lenders. The best thing is, Cleerly can go back to the same High Street to get you a competitive mortgage!
Cleerly can also help optometrists utilise their Lifetime ISA savings towards the deposit of a house up to the value of £450,000.
For those who are keen to get on the ladder but haven’t raised a large deposit, it’s also possible to apply for an optometrist mortgage for shared ownership schemes. Shared ownership properties give you the option of purchasing 25%, 50%, or 75% of the property, which means you’re only required to raise a deposit against the percentage of the property you intend to buy.
Trusted lenders we work with
