Mortgages for Professionals

When searching for the best professional mortgage, the key is knowing which mortgage lender to approach. Many professional mortgage products are available tailored to specific careers, such as teachers, nurses, and key workers.

These products offer benefits like higher loan-to-value ratios and flexible income assessments. Many high street banks have a professional mortgage range, but some can only be sourced from specialist lenders.

Using a mortgage broker is a good idea, as we have access to the full spectrum of professional mortgage deals. We are independent and can help you secure the best deal for your profession and unique financial situation.​

Whether you are remortgaging, moving home, investing in buy-to-let, or a first-time buyer, allow us to take the hard work out of buying a property with our specialist mortgage advice. Contact Goldmanread today and get a mortgage that’s right for you.

Your home may be repossessed if you do not keep up repayments on your mortgage.
Most Buy-to-Let mortgages are not regulated by the Financial Conduct Authority.

What are professional mortgages?

“Professional mortgages” is a catch-all term for mortgages tailored for people in certain skilled professions. They usually come with favourable criteria designed to meet the needs of individuals in a particular field, e.g., high-income multiples for trainee solicitors.

Many lenders offer a professional mortgage range, recognising the social importance of roles like nursing and the long-term stability and earning potential of professions like accounting.

Do professionals get better mortgage rates?

Mortgage lenders are more likely to offer competitive interest rates to professionals, recognising their stable and often high annual income. This advantage can result in significant savings over the life of the mortgage.

Additionally, professional mortgages may offer enhanced benefits, such as higher income multiples and lower deposit requirements.

What are the lending criteria for a professional mortgage?

Like any other sort of mortgage, professional mortgage lenders typically look for proof of job security, income, and a good credit score. They may also require you to be a member of an appropriate UK professional body, such as the Institute of Chartered Accountants.

Where professional mortgage products differ is that lenders are more willing to assess future income and irregular income structures, common in professions like law or IT. They may consider your qualifications, career history, and overall financial health to paint a complete picture of your affordability.

Mortgages for professionals by type

If you are a professional looking to purchase your first or next property, whether as your home or an investment, Goldmanread can help.

Professional mortgages for first-time buyers

Many first-time buyers are younger professionals, either still training or in the early stages of their careers. Whereas some first-time buyers might struggle to secure a mortgage with a high loan-to-value ratio, lenders often have more lenient eligibility criteria for those training in certain professions, e.g., junior doctors, due to the high earning potential and job security associated with the medical profession.

Guarantor mortgages are also a good solution for the soon-to-be qualified, as they can use a guarantor’s backing to secure a mortgage despite their limited credit history.

First-time buyer mortgages

Mortgages for professionals with bad credit

Even with adverse credit, professionals may still be able to get a mortgage, though they are likely to have access to fewer lenders. It’s essential to check your credit file before embarking on a professional mortgage application. Credit reports are easy to access via one of the three main credit reference agencies: Experian, Equifax, or TransUnion.

Bad credit mortgages

Buy-to-let mortgages for professionals

If you are a professional looking to invest in property, you will need a buy-to-let mortgage. The good news is that the favourable terms of a professional mortgage can often extend to buy-to-let.

Buy-to-let mortgages

Remortgaging for professionals

Professionals looking to remortgage can benefit from competitive rates and tailored deals that reflect their stable career and income. Remortgaging can help save money on monthly repayments, release equity, or fund home improvements.

Remortgages

Mortgages for self-employed professionals

Most lenders prefer to see evidence of standard income streams when approving applications, which can be challenging if you’re self-employed. However, specialist professional mortgage lenders may be willing to consider other financial evidence such as tax returns, bank statements, and accountant’s letters, often averaging income over several years. They tend to appreciate the unique financial circumstances of the self-employed, such as seasonal income fluctuations and dividend payments, giving you a better chance of approval.

Offset mortgages are also a popular choice amongst the self-employed. An offset mortgage links a savings account to the mortgage, allowing the balance in the savings account to offset the initial loan. This can significantly reduce the interest paid over the term of the mortgage.