Specialist

Mortgages For Junior Doctors

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Mortgages For Junior Doctors

Clifton private finance

We specialize in sourcing finance for residential and commercial property transactions in the UK

For junior doctors we work with select high street and private banks on a bespoke basis.

We can offer:
  • Bespoke lending solutions from £100,000
  • Large mortgage loans up to 95% LTV (Loan to value)
  • Uncomplicated approach to income & wealth
  • Interest only options 
  • Mortgages for residential and investment properties
  • Options for short term finance (bridging), buy to let, commercial and development
  • Mortgage solutions for complex income arrangements e.g. onshore and offshore trusts
  • Solutions for HNW & UHNW individuals
  • Lombard lending from £1m
  • Offshore solutions for medical professionals who are UK expats, non domiciled UK residents, UK residents earning in a foreign currency and foreign nationals
  • Independent service & expert advice
Call us on 0203 900 4322 to discuss your requirements.
Recent

Property Finance Deals

UK Expats Remortgage London Buy to Let Property to Fund House Purchase in Thailand
UK Expats Remortgage London Buy to Let Property to Fund House Purchase in Thailand
Area
London
Capital Raised
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UK Expat Mortgage for High-earners Paid in Two Foreign Currencies
UK Expat Mortgage for High-earners Paid in Two Foreign Currencies
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Cheshire
Capital Raised
£600k
Residential mortgage for £20m Surrey home owned via overseas company with complex self employed income
Residential mortgage for £20m Surrey home owned via overseas company with complex self employed income
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Capital Raised
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Complex Holiday Let Mortgage on Listed Property in Torquay for Self Employed Couple
Complex Holiday Let Mortgage on Listed Property in Torquay for Self Employed Couple
Area
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£2.7m High LTV Purchase for Partner in US Equity Firm
£2.7m High LTV Purchase for Partner in US Equity Firm
Area
North East England
Capital Raised
£2.3m
90% LTV Mortgage on £2.8m Hertfordshire Home for Family Planning Future Relocation to the UK
90% LTV Mortgage on £2.8m Hertfordshire Home for Family Planning Future Relocation to the UK
Area
Hertfordshire
Capital Raised
£2.5m

More Opportunities »

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Junior Doctor Mortgage Broker Service

What’s in your favour if you are a junior doctor looking for a mortgage? 

If you are a junior doctor, then you are starting out in a well-respected profession where there are numerous opportunities for career progression, and where there is the potential for you to receive high earnings. 

Therefore, some mortgage lenders are likely to be keen to lend to you. Some lenders will be willing to lend on the basis of your potential future earnings. 

Interest only and capital repayment options will be available; as will fixed, discounted, tracker and capped rate options. When your initial rate comes to an end, it is likely you will be able to re-mortgage. 

What might count against you if you are seeking a mortgage as a junior doctor 

However, there are reasons why some lenders might be less keen on junior doctors as borrowers. Indeed, some of your colleagues might have spoken about their own difficulties in obtaining a mortgage. 

At the start of your career, you may well be repaying a significant student debt. Your university studies will have lasted at least five years rather than the usual three, so this could affect your ability to make mortgage repayments. 

You may also have a short-term training contract. While having a number of short contracts, placements and ‘rotations’ can be a great way of gaining experience of different environments in different hospitals, this irregular work pattern is not necessarily what a mortgage lender wants to see. 

Your salary might be modest at present, and you might even be employed on a ‘zero hours’ basis. Much of your income might be in the form of overtime. 

On occasions, you may also be required to take a break from work to attend specialist training courses.

Choosing the location of your home

Junior doctors frequently work very long hours. To get a mortgage, you will need to pass the lender’s affordability assessment, and this might mean it’s impossible for you to purchase a property in certain areas, but wherever possible, you might want to consider living as close to the hospital as possible. After a long shift, the last thing you want is a long journey home, especially if you are driving.

Seek advice 

Because of the complex issues involved, you may need a specialist ‘professional’ mortgage rather than a standard mortgage, but you might need to approach a mortgage adviser to obtain one of these rather than just going to your local bank. You might not have heard of many of the lenders who offer some of the specialist mortgages that are available to junior medical professionals.  

You need a broker and a lender that understand the challenges that newly qualified doctors face, so if you’re new to the mortgage market, and want someone to guide you through the options available, then it’s a good idea to consult a professional mortgage adviser. 

Specialist mortgage broker service providing:

Our broker service provides expert help for medical professionals who have complex income arrangements. This can include bonus payments, profit-sharing agreements, or income and dividends from self-employment. 
Call us on 0203 900 4322 to discuss your requirements.
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