Doctor Mortgages and Advice

Why Can Mortgages for Doctors Be So Hard to Arrange?

Arranging mortgages for doctors can be difficult because of the LLP status of practices, with income made up of unpredictable drawings rather than a guaranteed income. Many doctors taking up a post for the first time may have come from the NHS, others may combine locum work with private practice. The result can be a complex source of income that won’t meet the usual requirement of a standard mortgage application.

As mortgage experts with years of experience, we have helped numerous doctors, vets, dentists, solicitors and other partners in LLPs to secure mortgage deals – including specialist mortgages. We often approach more flexible lenders, who we know are willing to take a broader view than many standard mortgage providers.

We’ll make an individual case for your precise circumstances and then approach smaller building societies, private banks and other reputable lenders we know who are prepared to take a more flexible approach.

This might include:

• Using an NHS P60 and recent CV to establish credibility and income potential
• Getting accounts from the partnerships and using statements from your practice financial director to establish projected drawings
• Approaching lenders who we know are used to dealing with partners in LLPs and are prepared to take other financial information into account
• Talking direct with underwriters and making a personal case based on a wider view of your wealth, assets and potential earnings