Mortgages for Doctors & Mortgages for NHS Staff
Exclusive Rates and Lending Criteria for Health Care Professionals.
Fox Davidson secure mortgages for Doctors, Surgeons, Consultants and other Health Care Professionals. We work trusts to provide mortgages for NHS staff.
We secure finance for all types of situations including:
- Newly Qualified Doctors
- Junior Doctors
- Locum Doctors
- Doctors with their own practise (Ltd company directors or partner in an LLP)
- NHS Staff on permanent and bank work
As an independent broker, we have access to the whole of the market. This allows us to work with lenders from small building societies to private banks. We secure residential, buy to let and commercial finance.
Some of the more common scenarios we secure funding for are detailed below:
Newly Qualified Doctor or New Employment/Position
We can secure finance for clients starting a new contract of employment up to 4 months in advance. The same applies for increases to salary. We will need a copy of the contract and the lender may apply for an employer’s reference.
This is particularly useful where we have a Doctor starting a new job in a new City and they wish to secure their new main residence before they start their new job.
Employed NHS Doctor Moving to A Contractor/Self-Employed Role
We fund scenarios where a previously employed Doctor has joined private practice as a partner, either as a director of a company or an LLP. As you are highly regarded as a Health Care Professional we work with lenders that will make exceptions to lending policy to find a way to lend you the funds you require.
We can either look at the existing business you have joined and gain assurances form the accountants or if you have been in situ for 3 – 6 months we can get an idea of your current income levels and again use those to determine your maximum borrowing.
Locum Doctor Mortgages
Working as a Locum can be perfect for those wishing to top-up an existing income or to work shifts that fit in around existing commitments such as child care. As Locum work is not guaranteed in the form of a permanent contract, some lenders will not accept it.
At Fox Davidson, we have specifically gone to the whole of the market to find lenders that will accept this type of income. We now work with many lenders that will accept Locum pay as if it is permanent income. The greater the history you have of the income the better, 6 months to 12 months are ideal.
What Terms Can Fox Davidson Secure for Doctors & Health Professionals?
- Professional Mortgages up to 6 x Income
- 95% Loan to value, 100% with additional security from Family/Guarantors
- Competitive rates of Interest from the Whole of the Market
- Offset Mortgages
- Free valuation and Legal costs
- Cashback Deal’s
Why use a Mortgage Broker?
As a health care professional, you will probably work long, unsociable hours. Trying to tie you job in with arranging a mortgage is time consuming and stressful. Using a mortgage broker means that you can do your job whilst we do ours, we will save you time and money.
Fox Davidson work with professionals from Barristers to Vet’s and so we have excellent relationships with lenders from across the market that will apply flexible lending criteria to ensure we get loans agreed for our clients and at competitive rates of interest.
We have lenders that consider basic employed salaries as well as additional income from locum work and unsociable hours etc.
For self-employed partners of a doctors practice we utilise mortgage lenders that will work from the latest year’s income figures rather than taking an average of 2 or 3 years.
- Call or email one of our professional mortgage brokers. They will complete a short fact find with you and discuss your requirements.
- We search the market of 1,000’s of mortgage products and discuss your lending proposal with the chosen lender to ensure it meets criteria and is placed with the right lender, first time.
- Your broker will then present the best possible mortgage terms to you.
- On acceptance of the proposed terms we will complete all paperwork and handle the entire process from application through to completion on your behalf.
Our direct access to professional mortgage underwriters allow us to build up a case for lending on your behalf.
With our support and correct presentation of the lending proposal we have secured mortgage terms that don’t meet the lenders standards criteria.
To discuss your professional mortgage requirements please contact a broker by email or by calling one of our offices.
Fox Davidson can work on a face to face basis or we can work remotely by phone and email. For face to face mortgage advice for doctors contact our Bath, Bristol or London office.