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.
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.
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.
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:
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.
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.
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.
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.
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.
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:
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.
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.