We know that applying for a mortgage can be daunting, especially if your career path is less standard than the initial salary. Doctors, Accountants, Solicitors, Engineers, Architects and other qualified professionals, the metro lending rules don’t necessarily take into account your earning potential or career pathways. Thankfully, this is where we can help with Professional Mortgages. At Sam Mortgages, we love helping professionals access Professional Mortgage products that suit their needs, specifically designed around their career pathway and aspirations.
What are Professional Mortgages?
Professional Mortgages are mortgage lending products specifically designed for people working in recognised professional fields. Lenders usually consider the career journey of their professional applicants as part of their assessment. For example, a doctor in a junior role or a solicitor in a trainee position might not be initially paid a high salary, but their future earning potential is too high. Mortgages intended for professionals often take this situation into consideration, which often leads to borrowing for qualified professionals.
Sam Mortgages has considerable experience directing clients to lenders that will accept people in professional careers. Consequently, our clients are often able to borrow more money, access competitive rates, and have more flexibility regarding repayments compared to regular mortgage plans.
Why Use Professional Mortgages?
Professional mortgages can provide many advantages over regular products:
Higher Borrowing Amount – Most of the lenders may consider lending an increased amount rather than the conventional income multiple because of your future earning capability.
Favourable Rates – Due to job security and less risk of defaulting on payments, many lenders also offer discounted rates based on professionals being employed.
Flexible Criteria – Professionals can access mortgage products, even with student loans or short work history periods, that would be out of reach for most other borrowers.
Specialist Options – From self-employed borrowers to contract employees or even borrowers working overseas, Professional Mortgages has a range of products.
If you have the correct approach and support from Sam Mortgages, these advantages can be complete benefits to seeing the most suitable mortgage deal based on your position now, but also for your future financial well-being.
Who Uses Professional Mortgages?
Included in Professional Mortgages is often a wide variety of recognised professions. Here are the most common professions that qualify:
- Doctors/medical records
- Solicitors/barristers
- Accountants/auditors
- Architects/surveyors
- Engineers
- Teachers/lecturers
- Veterinarians, dentists, and pharmacies
However, the criteria can differ from one lender to another. At Sam Mortgages, we will consider your circumstances and try to match you with the lenders most likely to accept your application. We want to ensure you do not waste your time applying for products that are not pertinent to your circumstances.
How Sam Mortgages Can Help?
At Sam Mortgages, we know very well that every profession has its own requirements, and this can vary from your first purchase, remortgaging, or investing in property – our tailored advice will always guide you to the appropriate product.
Here’s how we help:
Tailored Advice – We will actually take the time to find out about your circumstances, including your current career, salary, and ongoing financial goals.
Access to Specialist Lenders – We have access to a vast range of lenders, some different to what you would find on the high street that offer Professional Mortgages.
Clear Communication – From fees to interest rates, we will break down the particulars to help you make an informed decision.
Ongoing Relationship – Under no circumstances will your relationship with us cease after your mortgage has been agreed. We continue to reflect and advise when remortgaging and future financial planning.
With more than 16 years of experience in the mortgage industry, Sam Mortgages is relied on by professionals throughout the UK for straightforward and trustworthy mortgage advice.
Frequent Issues with Professional Mortgages
Although Professional Mortgages present excellent opportunities, they can be accompanied by complications. Certain professionals face challenges, including:
Inconsistent Income – For locum doctors or contractors, there may not be a stable salary each month.
High Student Debt – Many professionals go into their careers with a high level of debt.
Limited Work History – Recent graduates or newly qualified professionals may not have extensive evidence of finances to draw upon.
At Sam Mortgages, we are experts at overcoming these barriers and presenting your case clearly to lenders. We’ve experience and know which lenders can be flexible and how to structure your application to get the best outcome.
Professional Mortgages for First-Time Buyers
If you are a first-time buyer and are a professionally qualified person, Professional Mortgages can work well for you. Many lenders will be flexible with the size of the deposit and the income multiple for professionals just commencing their careers. This can help you get on the property ladder a lot sooner than you would have imagined.
By working with Sam Mortgages, you can investigate first-time buyer products alongside professional specialist products, ensuring that you make a decision that is beneficial for your current situation, alongside your progression in your career.
Why Choose Sam Mortgages?
Selecting a mortgage can be one of the most important choices you’ll ever make. When you partner with Sam Mortgage, you will benefit from:
- Years of combined professional lending experience.
- A trusted reputation backed by over 50 verified 5-star reviews.
- National coverage, whether in London, Northampton or anywhere else in the UK.
- Options designed for professionals like you.
We have a simple mission: to remove the stress of finding a mortgage and leave you with the certainty that you’re making the right decision.
If you are a professional looking for advice on mortgages, you should not leave your future to chance. Professional Mortgages can unlock doors that standard products cannot. Sam Mortgages is here to provide you with clear, independent advice and introduce you to lenders that understand the value of your profession.
