Mortgages for Newly Qualified Doctors
Our Mortgage Service - helping you make the right decision
"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support.
As your mortgage is such an important transaction, good advice is imperative.
"We know that the internet is the first port of call for many people when looking for mortgage solutions; our view is, yes use the internet to do your own research , but then bring it to us and we’ll let you know how your findings compare and then give you the information and advice you need - so that you can make the right decision for your future.” Adam Arnott, Head of Mortgages & Protection
Compare Mortgage for Newly Qualified Doctors
If you are a newly qualified doctor or a junior doctor undergoing foundation training, the early years of your medical career are likely to be based on fixed-term contracts rather than permanent roles. This is great for gaining the experience you need to succeed, but it can make getting a mortgage more difficult. This is because mortgage lenders tend to favour potential borrowers with what they see as a stable employment record. In order to get a mortgage it can be a good idea to approach mortgage lenders who understand the unique nature of newly qualified doctors’ contracts.
As a newly qualified doctor you may be keen to buy a higher end property that reflects your true earning potential. A specialist mortgage provider can help you get a mortgage based on your specific requirements.
Mortgages for new GPs
If you are a recently qualified doctor and are join a GP practice as a new partner, you could find that standard mortgage lenders class you to be newly self employed and therefore a lending risk. Because as a GP you are self employed (at least technically) you could face many of the pitfalls also encountered by people in less stable self-employment when it comes to trying to obtain a mortgage deal.
Mortgages for new locum doctors
Locum work can be a great way to gain experiences as a newly qualified doctor, but it can also be a headache when it comes to getting a mortgage. This is because as a locum you will not have a permanent employment contract and this can be a red flag to mortgage lenders who may see you as a greater lending risk. This can be especially true if you are a new locum as you will not be in a position to provide several years’ worth of accounts to prove your past income and job stability. Fortunately, specialist mortgage providers for doctors can help you to get a mortgage that takes your circumstances into account.
We could help you find a lender who understand the mortgage needs of newly qualified doctors – call today on 0117 332 3389 for the latest mortgages for doctors. To speak to one of our mortgage advisers click here »