Mortgage for Professionals

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What Professions are Classed as ‘Professional’?

What are the Advantages of a Professional Mortgage?

How Can Friends Capital Help?

Mortgage for Professionals

Professional mortgage products are aimed at borrowers in certain professional employment. Lenders use their own affordability calculations to assess how much they will lend; some offer enhanced calculations and favourable rates specifically to professionals. Lenders assess each application individually rather than sticking to a rigid formula, therefore mortgages for professionals are based on each applicants’ personal circumstances. 

Searching for the perfect mortgage that suits your personal circumstances, if you’re a professional, can be difficult. You may find a better deal if you shop around, and ultimately save a lot of money. If you are a professional and searching for a mortgage, Friends Capital will review your personal circumstances and then search the entire market to ensure you get the best mortgage deal possible. We will then deal with all the paperwork, submit your mortgage application, liaise with your mortgage lender and solicitor, and ensure that your mortgage application is completed as quickly as possible. We can:  

  • Save you money on your mortgage deal 
  • Offer a free consultation 
  • Offer unbiased financial advice 
  • Save you time in your mortgage application 
  • Give you a dedicated account manager who is available to you through the process 

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What Professions are Classed as ‘Professional’?

You are classed as a professional if you’re 21 or over and a fully qualified, practicing and registered in the following areas:

  • Accountant
  • Actuary
  • Barrister
  • Dentist
  • Engineer
  • Medical doctor
  • Optometrist
  • Solicitor
  • Teacher
  • Vet
  • Investment banker

or if you are classed as a high earner with income over £75,000 per year.

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What are the Advantages of a Professional Mortgage?

Many lenders will offer you a better mortgage deal if you work in certain professions because they are often viewed as lower risk.  Your qualifications, predictable career progression, and reliable income makes you a much safer applicant, statistically, than other applicants. Therefore, some lenders choose to offer better deals to attract more of these types of borrowers. Mortgages for professionals can result in: 

  • Lower Deposit Needed – Many lenders accept lower mortgage deposits from professionals
  • Better Rates and Lower Fees – A professional may qualify for a reduced mortgage rate and a product fee reduction
  • Enhanced Income Multiples – Typically, the maximum a standard borrower could obtain is 5x salary. Lenders often allow professionals an increased mortgage amount for borrowers on higher incomes.
  • Enhanced Over Payment Facility – Many lenders offer professionals flexibility to overpay on their mortgage as and when without penalty.
  • Repayment Holidays – Many professional mortgages provide the facility to make pre-arranged payment holidays
  • Increased Chance of a Self-employed Mortgage – If you’re a self-employed professional, some lenders exist that offer mortgages to professionals with just 1 year’s accounts, even if you’ve had some adverse credit.

How Can Friends Capital Help?

Friends Capital have pre-existing relationships with lenders that welcome professional applicants. We can search the entire market and get access to the best and most exclusive mortgages for professionals deals available. Then we will choose the deal that are most appropriate to your personal circumstance. We can:

  • Find you a lender that offers mortgages for professionals
  • Find you a deal appropriate to your personal circumstance
  • Offer unbiased financial advice
  • Give advice on what mortgage lenders will require, including giving you advice on an exit strategy for the mortgage end
  • Give you a no obligation mortgage quote
  • Deal with all the paper work, liaise with the lenders and solicitors. We will also make sure the application goes through as quickly as possible

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Two Steps to Contacting Friends Capital 

Step 1 

Either call us, email us , book an appointment online or request a call back below.

Step 2 

One of our friendly advisors will either call you back within 24 hours (usually the same working day), or will take details from you in order to best deal with your situation. 

When you speak with us, we will take a ‘fact find’. At this stage we take basic details about your situation. We will then search the whole of the market and find you the best deal available. 

If you are happy with the deal that we offer, we will then contact the lender for you and get you what is called a ‘decision in principal’. 

If you’re happy with the decision in principal then we will secure this deal for you and deal with the application for you on your behalf. 

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We aim to get the lowest mortgage rates on the market

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