Specialised mortgage advice for Vets
We specialise in arranging mortgages for Veterinary Surgeons. Like many of our professional applicants, vets often find that arranging a mortgage is far from the straightforward process that they had expected.
Our aim is to smooth the way and take up as little of your time as possible while we arrange the lending that you require.
When you are working as a locum, lenders will consider you to be self-employed. This can cause problems with a mortgage application, not least because most lenders require proof of three years’ income from self-employed applicants.
When working as a locum vet, it is common for our clients to dip in and out of locum work to suit their lifestyle or training obligations. However, clearly this does not fit with the two or three year income history required by lenders.
We have lenders who understand this situation and who will, as a result, accept shorter periods of income history for a client working as a locum.
New in practice?
If you have recently joined a Practice as a Partner, mortgage lenders will consider you to be newly self-employed. This would mean that you would be unable to arrange a mortgage for at least 24 months when applying to High Street lenders.
However, if you have joined an established Practice as a Partner, we can arrange lending within your first 12 months in the role.
Just short of lending?
Sometimes, we find that our professional clients have one partner whose income is acceptable to lenders whilst the other partner’s income is discounted due to insufficient time trading as a self-employed individual.
Where that second income is needed, just to top up a gap on affordability, we have lenders who will take this into account.
Contact one of our advisers today with help on your mortgage.