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Mortgages for Doctors

To find out exactly what your eligible for and at what rates please fill out a quick enquiry form or give us a call on 0808 189 2301.

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Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: August 11, 2021

Where many lenders and other mortgage brokers may have trouble understanding how your income is made up, the advisors that work with us are experts in mortgages for doctors and other medical professionals.

Make an enquiry for free, no-obligation advice from one of the expert advisors we work with. We’ll match you with a whole-of-market mortgage broker experienced in successfully arranging mortgages for doctors.

Mortgages for doctors that are newly qualified

If you have just qualified and started a job, or are about to start a job (within the next 6 months) then you may be eligible to borrow without the standard 3 months in employment.

Locum mortgage

As a locum doctor or nurse, you will find yourself doing variable hours, random shifts and, potentially, have gaps in employment.
You may also be locuming on top of your main job to earn extra cash.

So long as all the jobs you’re doing are deemed sustainable, it’s possible to use this income for mortgage purposes despite having a lack of job security in a permanent contract.

Typically, the lenders which consider locum work, and the vagaries of this kind of work, will go from an average of your last few months/years income.

Trainee or junior doctor mortgage

As a trainee or junior doctor, you are likely to be on zero or lower wage than your more experienced/qualified colleagues. But you are on the progression path and, as a result, if you are due to progress from junior to a more senior role, a mortgage lender can sometimes offer the mortgage based on the higher expected salary in certain circumstances.

Mortgages for doctors on temporary contracts

Mortgages for doctors on temporary contracts are usually no problem for specialist mortgage lenders as long as your temporary contract has at least a couple of months remaining. It’s also helpful if you can prove the likelihood that you will either be renewing the current contract or expecting to get a new one elsewhere.

Self-employed doctors mortgage

In certain roles within the medical profession, you will go from a salaried position into a self-employed position.

This is more common with dentists and private healthcare professionals, but can be relevant to anyone in medicine. When this happens, the majority of lenders will decline your application unless you have 2 or 3 years submitted accounts/tax returns.

However, thankfully there are certain lenders who will either use just 1 year of accounts, or even accept your self-employed mortgage application from day one (see our guide to self-employed mortgages with no accounts if you’re applying under these circumstances).

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Practice principal newly self-employed

To get a mortgage with a self-employed income and no accounts history is pretty much impossible for any other profession.

However, with no contract or evidence of income yourself, a specialist lender will consider the mortgage by establishing from the practice what the pay for your role is likely to be.

This is usually based on what your predecessor earned for the same role in the most recent year.

Speak to a mortgage broker for people in the medical profession

If you’re ready to press ahead with your mortgage application or need expert advice, make an enquiry and we’ll introduce you to a broker who specialises in mortgages for doctors and other medical professions.

Speaking to an expert with in-depth knowledge of your industry means you stand the best chance of finding the right lender the first time, which could potentially save you time, money and disappointment.

We won’t charge a penny to introduce you to one of the advisors we work with, there’s no obligation and it won’t leave any marks on your credit report.

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About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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