If You’re A Medical Professional, We Can Help You Save Money On Your Mortgage

Mortgages For Medical Professionals – We Can Help

At Simply Lending Solutions we understand that for busy medical professionals time is precious, Whether you’re a hospital doctor, a GP or a nurse, you don’t have the time to search the mortgage market for a great deal. We also know that the reality of many healthcare professionals’ working patterns or employment contracts makes getting a mortgage anything but straightforward.

Simply Lending Solutions are whole of market brokers. We have access to lenders who specialise in providing mortgages to people working in the medical profession and recognise the obstacles they might face. Our brokers are used to providing mortgage advice for doctors and other medical professionals. We’ll work with you to fully understand what you’re looking for, and to produce a complete financial picture for prospective lenders.

As Simply Lending Solutions work in this ever-changing market day after day, we know what lenders are looking for and what information they need. This helps us only apply to lenders that we feel will give you a competitive deal.

Which medical professionals struggle to find a suitable mortgage?

Simply Lending Solutions can give mortgage advice to help healthcare professionals secure the following: 

Why could medical professionals struggle to find a suitable mortgage?

There are many reasons why people working in the healthcare sector may have mortgage applications turned down. By understanding what these are Simply Lending Solutions can anticipate them and help you guard against them.

Our familiarity with the professional mortgage market means that engaging the services of our whole of market mortgage brokers can increase your chances of securing a mortgage offer.

Many doctors and nurses have flexible work patterns, and receive additional payments for overtime and unsociable hours. High street lenders sometimes fail to understand these irregular hours and payments and want to see evidence of a stable income over a long period of time.

Similarly, locum doctors, and bank and agency nurses may work on short-term contracts or on a self-employed basis again creating a challenge when you are asked to ‘prove’ your income, particularly if you have gaps in your employment.

If you’re a GP or private consultant who operates on a self-employed basis or as a limited company, you can also find it difficult to acquire an appropriate mortgage. This is particularly true for GPs who have recently joined a practice and don’t have records of previous self-employment.

Doctors and consultants who work for the NHS but also carry out some work in the private sector may also find that traditional lenders don’t always understand the total level of their income. This may lead to lenders underestimating the amount of mortgage loan that you would find affordable.

Newly qualified doctors can find that the nature of their foundation training again makes it difficult to prove income to a lender. You may be working on various rotations, have frequent contractual changes or have to attend training courses which lead you to lose time at work. The fixed-term contracts that junior doctors often have can also make lenders nervous.

Simply Lending Solutions can help

The Simply Lending Solutions mortgage application process focusses on you, the individual. We spend time building a relationship with you to understand your entire financial situation and the type of mortgage that you want.

We then combine the picture we have built up with our extensive knowledge of the specialist lenders who are likely to make mortgage offers to medical professionals like you.

The specialist mortgage market is constantly changing, different lenders have different criteria and the evidence they require for things like proof of income also varies. Our brokers’ familiarity with what lenders require helps us to help you toward a successful mortgage application.

Simply Lending Solutions lets you pass the whole process to us while you get on with your day job. We know that what you do is important, so sit back and leave it to us to find you a mortgage that you’ll be happy with.

A straightforward process

Our mortgage application process is straightforward and clear.

1. During your free initial consultation, we’ll talk through your circumstances and identify the type of mortgage you’re looking for.

2. We then start looking for suitable mortgages, contacting you if we need any additional information

3. Once we’ve put together a portfolio of options, Simply Lending Solutions come back to you to discuss them. We’ll outline all the costs including broker fees, let you know what documents are required and cover anything else you need to know.

4. Simply Lending Solutions then carries out its own underwriting process as this helps to ensure that the lender will be happy to progress with the application.

5. Any necessary documents are requested from you so that the final application can be made. Then we wait for the lender to make the mortgage offer.

6. Once you are happy, papers can be passed to the lawyers for exchange of contracts and completion.

7. Simply Lending Solutions don’t charge you until the formal mortgage offer is received. For some remortgages no fees are payable until after completion.

Specialist help for a range of mortgages

Simply Lending Solutions’ brokers work across the mortgage market, securing offers for all types of mortgages. Whether you’re looking forward to buying your first home, are considering remortgaging or even thinking about a buy-to-let investment opportunity, our CeMap qualified brokers have the necessary experience to advise and guide you through the application process.

We have helped medical professionals like you secure: –

• Second mortgages
• Buy-to-let mortgages
• First-time mortgages
• Remortgages
• Help to Buy mortgages
• Home mover mortgages
• Shared ownership mortgages