Professional Mortgages

If you're a professional looking to purchase a new property or re-finance an existing one, then you've come to the right place. Our dedicated team of professional mortgage advisers is on-hand to help you navigate the complex world of professional mortgages and find the best solution to suit your individual needs. 

The Lending Channel boasts years of experience in dealing with all type of mortgage offers, from complex mortgages to commercial mortgages.

No matter what your needs or situation, our experienced mortgage advisors are committed to helping you find the best mortgage solution for your situation.

Below you’ll find all the information you need for gaining a comprehensive overview of professional mortgages, including who is eligible, the advantages, and how our team can help you secure the right financing for your unique situation. 

professional mortgages

Could you save money with a Professional Mortgage Loan?

Did you know that there is a flexible mortgage loan available for working professionals in Scotland? 

Those who qualify can be eligible for up to 95% loan to value (LTV), including new builds up to £400k.

What is a Professional Mortgage Product? 

A professional mortgage product is a type of mortgage that is specifically designed for medium-to-high-earning professionals such as doctors, lawyers, accountants, and other similar professionals.

These mortgages are often designed to accommodate the unique financial circumstances of these professionals, such as their irregular income streams, and may have more flexible lending criteria than standard mortgages. 

One of the key differences between a professional mortgage and a standard mortgage is the income verification process. With a standard residential mortgage , UK lenders typically require proof of income in the form of payslips or tax returns.

However, with a professional mortgage, lenders may take into account a wider range of income sources, including bonuses, investment income, and projected future earnings. 

There are several types of professional mortgages available, each with its own unique features and benefits. For example, some professional mortgages may allow borrowers to finance up to 100% of the property value, while others may have lower interest rates or longer repayment terms. 

At The Lending Channel , we can help you understand the different types of professional mortgages available and find the right solution to meet your needs. 

Professional mortgage criteria

Scottish lenders offer professional mortgages to anyone who aged 21 and over and is a fully qualified, practicing and registered professional. 

The professions generally considered include: 

  • Accountant 
  • Actuary 
  • Barrister 
  • Dentist 
  • Engineer 
  • Medical doctor 
  • Optometrist 
  • Pharmacist 
  • Solicitor 
  • Teacher 
  • Vet 

There is no minimum practice time requirement. Many lenders will also consider trainees in certain fields. If you’re unsure whether you qualify for a professional mortgage loan, give our team of professional mortgage experts a call on 01738 583008.

What is the reason for mortgage lenders offering Professional Mortgage Services? 

Working professionals who have studied for many years are regarded as more reliable than others. The logic is that if a person has invested years of their life (and thousands of pounds) into their career, they will stick around. This makes their income patterns more stable and allows professional mortgage lenders to predict what they will be earning in the future, minimising risk.

A job in a professional industry is also seen as more secure. Large sectors, like the NHS, have a more structured career path than many other jobs. 

Professionals are also highly employable; if they were to lose a job, there is a good chance that they'll find another quickly and easily. Again, this minimises risk for lenders, making professionals some of the most desirable borrowers on the market.

This unique mortgage was created to attract professional applicants to prospective lenders.

Professional mortgage advisers

What are the benefits of professional mortgages? 

Professional mortgages offer several advantages over traditional mortgages.

Here are some of the key benefits to consider:

  • Lower interest rates: Professional mortgages often come with lower interest rates than traditional mortgages, which can save borrowers money over the life of the loan. 
  • Smaller deposits required: If you're a first-time buyer, this could be the difference between affording a home and not. Some lenders offer whopping 95% mortgages, eradicating the standard 15-20% deposit, which acts as a barrier to so many. 
  • Low-income borrowing: Lenders can predict that it's likely you'll be earning more in the future, so they are willing to invest in newly qualified professionals. Some will be willing to offer you up to six times your salary on a professional mortgage, compared to just four times on a regular one. 
  • High-income borrowing: Many lenders are also willing to offer a bigger loan amount if you're established and in a top income bracket. 
  • More flexible terms: Professional mortgages may offer more flexible mortgage repayment terms than traditional mortgages. This can include longer repayment periods, interest-only payments, or the ability to make lump sum payments without penalty. 

In addition, professional mortgage can accommodate professional who may want a break from their professional.

Whether this is for further study or travel, professional mortgage loans offer repayment holidays. So, as long as you have established yourself as a trustworthy borrower, these payment breaks can be negotiated between yourself and the lender. 

Professional mortgages are also a great option for those unsure about their future career as they support new career developments.

Generally. to purchase property, freelancers are required to produce long-standing evidence that their earnings are reliable. However, with a professional mortgage, these rules don't apply.

Professionals who make the leap from standard employment to freelance will often only have to provide just one year's worth of records, allowing you to secure a property much faster than usual.

How do I apply for a professional mortgage? 

There's no doubt about it; securing and understanding specialised mortgages is complex and time-consuming. With so many options in an oversaturated market, it can be challenging to know what the best deal is for you. It is always wise to seek mortgage advice from an experienced mortgage broker. 

The Lending Channel has over a decade of experience in the mortgage market. We provide impartial, bespoke advice on a no-obligation basis.

As experts in the field or mortgages and loans, our professional mortgage advisers can help you take advantage of the benefits that come with professional mortgages.

Simply get in touch with our friendly team today for free, no-obligation advice on how to start your professional mortgage application.

We are a credit broker, not a lender and are paid a commission by our lenders, full details of this along with our fees will be detailed in the Terms of Business we issue to you.

The Lending Channel ltd is a member of the National Association of Commercial Finance Brokers (NACFB).

2/1 King James VI Business Centre, Friarton Road, Perth, PH2 8DY
Tel: 01738 583008 | Fax: 01738 500402

The Lending Channel ltd are authorised and regulated by the Financial Conduct Authority.
FCA number 626787
Company number SC334818
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