Medics borrow up to 5.5 x your income with a specialist contractor mortgage.
Depending on your profession, it could be possible to obtain a contractor mortgage that takes into account your future earning potential.
This is possible because some lenders have designed products with certain sectors in mind. For instance, Hinkley & Rugby Building Society has mortgages available for you if you are a doctor or a dentist. Depending on how much deposit you have, it could be possible to borrow up to 5.5 times your present income. The range takes two elements into account:
- The level of demand for your skills and services.
- How much you are likely to earn as your career progresses.
Various conditions apply, however, 40 year mortgage terms are available.
Regardless of the employment sector you are in, if you work for yourself or you are contracted, your financial circumstances may not be straightforward. Therefore, it is always advisable to consult with an expert mortgage broker to eliminate the possibility of applying to a provider who doesn’t understand your industry.
With nearly 15 years’ experience behind us finding mortgages for our clients, our level of knowledge is second to none.
After reviewing your circumstances and needs, our professionals can then match you with a contractor mortgage provider who is looking for someone exactly like you to lend to. Very often, these providers specialise in complex cases and take an individual approach to assessing applications. This is also where we can lend our weight as we can help you to present your case in the best possible light.
To find out how much you can borrow and over what term, you can contact Deal Direct in two ways:
- online chat – click on the blue box at the bottom of the page
- telephone – dial the number below
Out of hours you can leave us a message and we’ll get back to you as soon as possible.