Why seek out a professional mortgage?
Being a Professional and member of a chartered or registered Institute is a symbol of a long and sometimes arduous journey. It exemplifies years of hard work, dedication, and sacrifice for you to achieve your goals, qualifications, and Professional status.
Whether you are a Doctor, Dentist, Solicitor, accountant, or other Professional you will have had to undergo extensive study and on-the-job training. The reward of course for such training and dedication can be a long-fulfilling career and monetary gain; Professionals can also obtain favourable treatment from mortgage lenders.
The good news is that you, as a Professional recognised by verified association, may qualify for a professional mortgage. These mortgages are offered by lenders to attract Professionals and can feature more flexible lending criteria, and favourable rates.
Why do they do this? Because of your career choice and stable income, the lenders have more assurance and you are perceived as a lower risk. Professional mortgages aren’t always the answer over a bank or high street rate, so as a Professional seeking a mortgage it is best to request independent mortgage advice from a suitably qualified and experienced broker.
Why seek out a professional mortgage? Because professional mortgages are open to newly qualified Professionals you may find that you can get on the property ladder sooner than you imagined. Another benefit is that the lender is prepared to be flexible when discussing your situation, income, working patterns, and requirements. This is particularly true for self-employed Professionals where issues around limited trading history can often be overcome. Exclusive mortgage rates, and enhanced lending, are the other cherries on top of an already tempting cake.
Like a professional career, a professional mortgage is not for everybody. Studying for a professional role is a costly and time consuming process and this can leave you stretched financially, especially if you are self-supporting. Taking out a professional mortgage soon after qualification may not be the wisest of moves.
A professional mortgage provides much food for thought for those wanting to explore the potential of owning a property for the first time, or indeed buying a larger or second property. It can give you lending options that you wouldn’t expect to have be offered, and spare you from climbing the property ladder one rung at a time. Ultimately only you will know what is right for you.