What's new in Mortgages
The ‘stamp duty holiday’ announcement by the government to encourage house buyers to get moving again, could make now the…
Applying for a mortgage is reasonably straightforward for most NHS doctors and dentists. But what if you are a locum?…
Being a locum has many advantages. Greater flexibility, autonomy and variety, but there are some disadvantages too. Peaks and troughs…
Since June 2017, applying for a mortgage has got harder and fewer new mortgages have been approved. What has changed…
There are so many things in life that are better rented than owned – skis, boats, jacuzzis. Surely holiday homes…
Are you a home-owner with a mortgage, a retired medic trying to live off your pension income, or simply a saver trying to put funds…
The “Bank of Mum and Dad” (Bomad) has unofficially become the UK’s 9th biggest mortgage lender, with parents gifting or…
Calling all buy-to-let landlords. The new tax law that comes into force in April 2017 isn’t the only nail in…
Are you desperately trying to save for your first home or, at the other end of the spectrum, so that…
Buying a dental practice and saying goodbye to the relatively worry-free days of being an associate is a big decision….
The Chancellor’s Budget U-turn on pension tax relief changes wasn’t the only surprise he had up his sleeve; he also…
Are you a landlord with a mortgage on your rented out property? If you are, even basic rate tax payers…
What’s The Best Mortgage Deal?
There’s a seemingly endless number of mortgages available. Each offers a different rate, on different terms, with different fees.
Impartial mortgage advice specifically for doctors and dentists
Whether you’re a first time buyer, a seasoned property owner or a buy-to-let investor, buying a property is likely to be the largest purchase you make in your life.
From the vast array of options available, it’s vital you have the right mortgage for you; not just based on the rate, but also on your individual requirements, the state of the current market at any given point, and the complexities of your profession.
Various income factors including additional programmed activity and private practice need to be considered.
Both your basic pay and your on-call pay need to be taken into account.
Your income may be partly or wholly from a self-employed basis.
Locum Doctors and Dentists
Your self-employed status, not having a history of accounts and no permanent contract needs specialist knowledge and expertise to avoid problems getting a mortgage.
Some self-employed GPs can encounter issues getting a mortgage, particularly if they have recently joined a practice and don’t have historical accounts.
Doctors and Dentists with HSMP Visa
Securing a mortgage can be difficult for medical professionals from overseas.
Doctors and Dentists as Landlords
Buying a property as an investment, or because you’ve moved Trusts and want to rent your current property out, needs a buy-to-let mortgage that’s set up correctly to avoid unnecessary costs.
How we can help you
Legal & Medical’s independent financial advisers (IFAs) are able to research the whole of the mortgage market. That not only means our mortgage advice is impartial, it also means we have access to deals which may not be available on the high street.
Because we specialise in providing financial advice to doctors and dentists, we also know the nuances of your profession, the problems you may face in getting a mortgage, and the providers who look favourably on your position.
Get in touch to find out more
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Buy to Let Loans and/or Business Loans fall outside the remit of the FCA.