It is more than likely that, as a consultant, you will be purchasing property at a higher than average price. The increased associated costs that come with buying a more expensive property such as a large stamp duty tax bill, and substantial monthly mortgage repayments can mean that if you are new to your post, you may wish to borrow up to nearly six times earnings and only have a 10-15% deposit.
As you will be able to demonstrate that your income is set to rise, getting a mortgage with Doctors Mortgages Online is far easier than with difficult high street lenders. We have access to lenders who understand that consultant’s have private income streams, and at time, commitment and intensity payments. Doctors Mortgages Online can place a mortgage with 100% of these payments factoring into your affordability assessment. If you also have existing buy to let property in the background, this can cause unnecessary complications.
Working with a specialist medical mortgages broker, consultants can get a swift, hassle free mortgage solution. We have no need to meet with you face-to-face, and all our correspondence is dealt with online. All the paperwork is completed by our brokers and we’ll only contact you with essential information during the process so that there is little demand on your time.
Remember that the larger the mortgage you require, the smaller the pool of lenders that are prepared to offer you a mortgage deal. This is where specialist advice and experience is invaluable in getting the outcome you require.