Am I entitled to a professional mortgage?
What is a professional mortgage?
Professional mortgages are all the rage with lenders these days and are a special kind of mortgage offered to those qualified in certain vocations. A professional mortgage will allow you to borrow a percentage of a property’s value and usually offer more favourable terms than a regular residential mortgage.
Can I get a professional mortgage?
Whilst eligible job titles can vary between lenders to a certain extent, you will usually be able to seek a professional mortgage if you are a qualified:
The reason that these types of profession are favoured by lenders is because they are career choices unlikely to change every couple of years. These vocations provide a steady and reliable income and are considered recession-proof, which means that lenders feel more confident that the receiver of the loan will be able to repay without issue.
What are the potential benefits of a professional mortgage?
There are a number of potential benefits to choosing a professional mortgage. Because of the perceived job security, lenders are more likely to feel confident loaning a larger percentage of the property’s value. Lenders are also more likely to be flexible in other areas, such as greater flexibility for overpayments.
Getting the best deal with professional mortgage lending can require a lot of research, and the best offers aren’t always available on the high street. Our team of finance brokers are here to help you find the best lender, without taking any brokerage costs from you! Contact us today on 01202 937880 to discuss your requirements.