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Mortgages for Doctors can be a challenge, as more often than not we see complex employment set ups such as fixed term contracting, locum work and self-employment.
Naturally, we also see higher amounts of student debt and higher NHS pension contributions, which can have an impact on lending.
However, with the right guidance, the process can be less of a headache.
When we use the term “Mortgages for Doctors”, sometimes referred to as “Doctor mortgages”, we aren’t talking about a specific mortgage product, but rather a type of applicant, similar to when we say “NHS mortgages”.
Although getting a mortgage as a Doctor can be complicated, it can come with benefits too.
For example, as there tends to be good progression being a Doctor, some lenders may lend a higher amount, particularly if you’re newly qualified.
Another benefit is that you may not require a minimum amount of time in employment before applying for a mortgage.
At Rosehill, we take pride in building long-term relationships with our clients. We don’t see ourselves as just a mortgage broker, but rather a trusted partner who will be with you every step of the way.
At Rosehill, we take pride in building long-term relationships with our clients. We don’t see ourselves as just a mortgage broker, but rather a trusted partner who will be with you every step of the way.
Whilst most applicants will have similar mortgage options available, subject to affordability and credit history, some lenders may offer lower rates for NHS staff.
Better yet, as a continued thank you to all heroes at the NHS, Rosehill offer a heavily reduced fee with our NHS incentive.
Ultimately, the amount you can borrow will be subject to full income, expenditure and credit history, just like other applicants.
A good starting point would be around 4x – 4.5x your income (jointly if you’re buying with someone), assuming you have no debts or dependents.
However, some lenders allow professionals like yourself to borrow a higher amount.
Typically you’ll need:
The main varying details here will be your proof of income, as this will depend on your employment type.
It’s best to speak to a specialist mortgage broker to discuss the specific documents required for your individual circumstances.
Your selflessness does not go unnoticed.
At Rosehill, we are forever grateful for all of your hard work, so much so that we have introduced our NHS Support.
We now have a heavily reduced fee for NHS workers to show our appreciation, and we offer live Q&As for NHS staff.
We focus on building long-lasting relationships with clients.
We therefore charge a reduced fee for our existing client remortgages.
Click here for more detail.
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As a mortgage is secured against your home or property, it may be repossessed if you do not keep up the mortgage repayments. Think carefully before securing any other debts against your home or property. The Financial Conduct Authority does not regulate commercial buy to lets and some forms of commercial mortgages. You may have to pay an early repayment charge to your existing lender if you re-mortgage
We typically charge a fee for our services, which is dependent on the amount of administration required. Please refer to our terms of business for further information.
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK. The purpose of any content on this site is to provide technical and generic information and should not be interpreted as a personal recommendation or advice.
We aim to provide the best possible service to our clients. However, if you have a complaint that we’re unable to resolve, please see our complaints policy.
Rose Hill Financial Services Ltd is authorised and regulated by the Financial Conduct Authority. You can find us on the Financial Services Register https://register.fca.org.uk/ under reference 912303. Registered office address: 1 Bell Street, 2nd Floor, London, England, NW1 5BY. Registered in England and Wales. Company registration no: 11997519.
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