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Real Benefits of Working with a Specialist Medical Mortgage Broker

The mortgage market is extremely competitive. It can be hard to unravel mortgage jargon to understand exactly what certain offers mean. There are a great deal of different providers and an extensive range of products and rates available. General advice given to property buyers is that they should talk to their bank and shop around for mortgage brokers to choose the right broker for you. But what if you don’t have the time?

Also, many specialist mortgage brokers charge client advice fees, which you may not want to pay in the initial research phase.

This is why Dental and Medical do not charge any fees to our clients, to arrange their mortgage funding.

Looking for mortgages can take up a lot of time

Being a medical professional brings with it a whole host of responsibilities to keep you busy. From caring for your patients, your staff, the practice you work in, and last but by no means least, finding the time to spend with your family.

The medical sector is one of the busiest and stressful sectors to work in, added on top of your day to day tasks, if you also do take extra training, attend or give lectures on your medical speciality, or teach younger staff… your job doesn’t finish at the end of the day.

Save yourself the stress

This is where a specialist medical mortgage broker can provide you with the relief you need, to help remove part of the stress that comes hand in hand with buying a property or renewing your mortgage. Plus, it doesn’t just save on stress. The great news for your finances is that the right broker can help you save hundreds of pounds a year with the right mortgage deal.

Why choose a specialist medical mortgage broker

Just as your specialist knowledge makes you better at caring for your patients, specialist medical brokers understand the needs of medics and why you may need extra support when taking out a mortgage:

  • Medical professionals are short on time

Taking out a mortgage isn’t a task your medical secretary can do on your behalf, as much as you depend on them to organise your life into sections of the day – mortgaging is something you need to make time for yourself. But we know that making time can be very tricky. Enlisting a specialist medical mortgage broker can help you organise your application on your behalf as much as possible. They’ll make sure the papers are clear, easy to understand, will provide you with succinct advice, and even assist with filling in the multitude of forms that get thrown at you when applying for a mortgage.

  • 9am – 5pm jobs don’t really exist in the medical world

The working calendar of a medical professional is, for want of a better word, hectic. We know that very rarely will a medic be available during the day. With patient consultations to attend, surgeries to prepare for, board meetings to chair – it’s not easy to take even 20 minutes out of your day to discuss your mortgage needs. Investment decisions, as important to you as they are, get slipped to the bottom of the to-do list all too frequently. A specialist medical mortgage broker like Dental & Medical Financial Services, will make themselves available to you for calls and meetings in the evenings and even weekends too. It’s your needs they are there to help you with so will work to suit your busy timetables.

  • Full knowledge of how the medical profession works

With thousands of mortgages being completed for doctors over the years, an experienced specialist medical mortgage broker understands how your income works and how it needs to be presented for the mortgage application. You may have a basic salary or work harder for extra income (by way of private work, or on-call rates) for you to bring home. We take all that into account when dealing with the paperwork for your application.

  • Mortgage lenders with some flexibility

A specialist medical mortgage broker will be able to research into the lenders that can offer you the opportunity to rent out your property without penalising you for doing so. Either on a consent-to-let basis or they can give you the freedom to change to a buy-to-let mortgage agreement if the needs arise. Medical professionals, especially when you’re just starting out, need to have the flexibility to relocate as and when the job needs you to. Don’t let your mortgage inhibit your progression to the top of your professional career.

  • Hundreds of providers to choose from

There are so many providers out there, how do you know which one is best for you when they can sometimes be very different? A fantastic benefit of working with a specialist medical mortgage broker is that because they’ve managed so many mortgages in the medical sector, they have a great knowledge of which lenders are most compatible with your requirements, and which lenders to widely steer clear of.

What if you don’t want to use a specialist medical mortgage broker?

You have the option to speak to a general mortgage adviser and forgo the help of a specialist. If this is the choice you make, then you need to be prepared for the possibility of:

  • Potentially paying more for your mortgage with a broker who pushes a mortgage rate just to make the sale.
  • Not having the choice of the best mortgage rate deals as average brokers won’t have the knowledge or access to the speciality mortgage providers.
  • Incorrect dealings of your trade, therefore being ring-fenced with other trades that aren’t similar to the medical trade.
  • Needing to explain at length your bank statements and working contracts if your working conditions are atypical or you’re new to the medical profession.

Dedicated to securing the perfect mortgage for you

Working with a specialist mortgage broker will give you the best results. You will get dedicated, specialist advice and support from someone that speaks the same language. Committed to helping medical professionals achieve their property ladder goals, we have been nurturing relationships with various mortgage providers for many years, which allows us to offer you the best choices in mortgage deals on the market. Get in touch today and let us help you find your ideal mortgage.

Contact specialist medical mortgage brokers Dental and Medical Financial here

This does not constitute advice and advice should be sought in all instances before acting on it. The Financial Conduct Authority does not regulate tax advice. Dental and Medical Financial Services is an appointed representative of Best Practice IFA Group Limited, which is authorised and regulated by the Financial Conduct Authority.