Mortgages for GPs

I take great pride in sorting mortgages for GPs. You may think this should be fairly straight forward. But unfortunately if you’re working as a locum GP. Have recently become a partner in a practice. Or are just starting out as a specialty registrar. There are unique complexities when it comes to arranging a mortgage .

As a mortgage broker that understands your pay & career progression, I am able to make the most of my experience and contacts within the mortgage industry to negotiate the most competitive deals available.

If you would like to discuss anything in more detail, please feel free to send me a WhatsApp. Or access my diary to setup a meeting at a time that suits you. 

Table of Contents

Why you should use a broker that specialises in Mortgages for GPs.

I have been helping to arrange mortgages for GPs for as long as I can remember. And you would be surprised at the issues I’ve been able to help doctors overcome.

By mainly working with doctors, I have a great understanding of your pay and career progression and have successfully negotiated deals where mortgage lenders have…

Through the relationships I have built with specialist contacts at mortgage lenders, I am able to negotiate bespoke deals that (in my opinion) just wouldn’t be possible without the help of a specialist broker.

And with flexible appointments to suit your shift pattern. Why wouldn’t you want to use a broker that specialises in mortgages for GPs?

Mortgages for Employed GPs.

If you are permanently employed by the NHS or a private practice as a GP, you would likely think that obtaining a mortgage should be fairly straightforward. But the deal that looks the best online or at your bank isn’t always the most suitable. 

Approaching a mortgage broker will help you understand how much you can borrow and the types of deal available to you. To ensure you’re not just getting the cheapest deal. But the most suitable for your situation. Whether that’s being able to borrow more money, access offset mortgage facilities, or other unique quirks. 

Mortgages for GPs in training.

If you’re a junior doctor working as a Specialty Registrar in General Practice (GPST), it will be worth checking out the extra information I have put together for junior doctors. Because you will likely have many of the same challenges when it comes to your rotational contracts, additional pay and future job changes.

When sorting mortgages for GPs in training, it is often possible to find a mortgage lender who will boost the amount you can borrow because they understand your pay progression and future earning potential. 

But many will take issue with the nature of your contract and any additional income you may be earning. So as a trainee GP you can’t assume every mortgage lender will treat you the same.

Sorting mortgages for Locum GPs has become a bit of a specialty of mine. And a bit of a passion project.

I regularly speak to Locum GPs who had thought it wouldn’t be possible to get a mortgage. But I have successfully negotiated bespoke mortgage deals for Locum GPs who have been working in this way for as little as three months. Even on a self-employed basis. 

This does vary depending on how you get paid…

If you work as a Locum GP and your employer deals with your tax and national insurance contributions. It is possible to sort a new mortgage after working in this way for just three months. 

But as this work is not guaranteed, many mortgage lenders will often need 12 months history of working in this way. Some may want to see nearer two years history. Whilst some mortgage lenders wouldn’t consider the income at all. 

If you work as a Locum GP and are responsible for your own tax and national insurance contributions. Either through self-assessment as a sole trader or if the money is paid into a limited company. Again, it is possible to sort a new mortgage after working in this way for just three months. 

But as most mortgage lenders will treat you as a self-employed individual, many will want you have to been working in this way for at least two to three years. And be able to evidence your income in the normal ways a self-employed person would.

Using my industry experience and contacts, I regularly negotiate bespoke mortgage deals for my clients. Which have allowed my clients to…

Everyone’s circumstances are different. So what works for one of my clients may not work for another. And depending on how much you need to borrow and the deals available at the time. It could be more beneficial to approach one bank or building society over another. Getting a mortgage as a locum GP isn’t easy. And accessing a specialist broker will ensure you’re getting the most suitable deal. 

If you have a share in the partnership where you work, you will be considered as self-employed by most mortgage lenders. This will likely mean having to provide lots of history about yourself & the practice.

This could be quite time consuming as releasing partnership accounts and bank statements often needs approval from each partner in the practice. 

Going for the wrong mortgage lender could have you tied up in paperwork and seemingly endless requests for further information for weeks. 

Sorting a mortgage for GP’s joining a practice, and moving from being a salaried GP to a partner is difficult. Suddenly mortgage lenders are treating you as self-employed and will likely want to see two to three years worth of practice accounts with you as a partner.

To explain this in more detail, I’ve put together a whole page dedicated to Doctors Joining a GP Practice.

Would you like to...

If you are a first time buyer or moving home...

It would be great to be a part of helping you buy your new home and secure the most suitable mortgage and protection portfolio.

If you are ready to talk, please feel free to get in touch or provide your contact details below.

If you are remortgaging...

It would be great to helping you arrange the new mortgage. 

If you are ready to talk, please feel free to get in touch or provide your contact details below.