Our professional mortgage products will provide support to newly qualified professional applicants who meet the Banks approved list and criteria requirements, including fully qualified Accountants, Actuaries, Architects, Barristers, Chartered Surveyors, Dentists, Medical Doctors, Optometrists, Pharmacists, Solicitors and Veterinarians. One or more of the applicants must have become fully qualified in the last 5 years.
The Professional Mortgage product will allow enhanced income multipliers up to a maximum of 6 x income, subject to the Bank’s criteria and affordability assessment.
Customers applying for a professional mortgage product must meet all of the secured lending criteria, apart from standard income multipliers, but will also be subject to additional criteria outlined below:
- Purchase applications only
- Maximum 6 x income multiplier
- Minimum income requirement for the professional applicant is £35,000
- Joint applications are acceptable but at least 1 applicant must be a professional and the professional must meet the minimum requirement
- Approved professions are: Accountants, Architects, Actuaries, Barristers, Chartered Surveyors, Dentists, Medical Doctors, Optometrists, Pharmacists, Solicitors and Veterinarians
- The qualification must align to one of the registered bodies listed below and must be within the last 5 years:
- Institute of Chartered Accountants England & Wales
- Institute of Chartered Accountants Scotland
- Chartered Institute of Management Accountants
- Association of Chartered Certified Accountants
- Chartered Institute of Public Finance and Accountancy
- Royal Institute of British Architects
- The Institute and Faculty of Actuaries (IFoA)
- Royal Institution of Chartered Surveyors (RICS)
- The General Optical Council
- General Pharmaceutical Council (GPhC)
- Law Society of Scotland
- Law Society of England & Wales
- Law Society of Northern Ireland
- Royal College of Veterinary Surgeons
We will require certification of the full qualification which must be within the last 5 years and must align to one of the registered bodies listed above. Evidence is required for all applicants who hold the recognised qualification to qualify for the professional mortgage and must be provided pre-offer.