Mortgages
for Doctors

Wanting to get on the property ladder as a healthcare professional? Whether you’re a new junior doctor, a consultant, or a GP, a doctor’s mortgage can provide extra benefits.

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Buying your first home as a doctor

Doctors are an appealing client to mortgage lenders, as the job offers great job security and clear career/pay progression. We’ve got experience in supporting healthcare professionals in securing a mortgage for the best rate.

Better yet, we understand the complexities those in the medical field may face, such as the income of locum doctors and the student debt newly qualified doctors have.

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How much can I borrow as a doctor?

How much lenders will allow you to borrow depends on a handful of factors (of which apply to anyone applying for a mortgage, regardless of profession).

Your eligibility and borrowing power depend on:

Your income
Your past financial history and credit score
The size of your deposit.

As a general rule, lenders typically offer around 4.5 times your salary for a mortgage. That said, as a doctor, lenders could allow you to borrow up to 6 times your salary. With this, you’ll have greater purchasing power, enabling you to buy a bigger property if you wish. This depends on the lender and your current career stage.

If you’re buying a property with someone who works in a different profession, however, you may only qualify for the standard 4 to 4.5 times salary.

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Mortgage lending options as a medical professional

Many lenders offer doctor additional mortgage benefits; these may include, but are not limited to, the following:

Higher borrowing ability – Mortgage Synergy has lenders who can offer up to 6 times your income, meaning you can purchase at a higher price than most. This is higher than the sum of 4.5 to 4.75 times your income for standard first-time buyer mortgages
Use of locum work – This can be considered in affordability assessments
Inclusion of future pay or job offers – Some lenders lend on future pay rises and future contracts for new positions, depending on how far ahead the pay rise or job offer is dated
Flexible underwriting – Lenders may offer flexibility on their standard criteria to accommodate professionals, such as doctors. This is important for the speed and progress of your mortgage application, where underwriting can be less in depth.

Can I get a mortgage during my foundation or junior doctor years?

Yes, many lenders accept mortgage applications from those in their foundation study years and junior doctors. As a junior doctor, you bring a lot to the table, and lenders recognise this. You’re beginning a career that offers significant job security and strong earning potential.

There are specialist mortgage brokers for all kinds of professions, including doctors/healthcare professionals. At Mortgage Synergy, we understand the unique structure of doctor contracts and can help you find the right lenders and best mortgage rates for your circumstances.

Lenders may consider your:

Future earning potential rather than your current income
Additional work carried out as a locum doctor.

At Mortgage Synergy, we’ll always share our expertise to provide recommendations based on your specific situation, and we’ll ensure you have the right documentation necessary.

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It’s never to early to discuss your mortgage

Tell us about your mortgage requirements and one of our specialist advisors will be in touch within 24 hours.

Can locum doctors still get a mortgage?

Locum doctors face additional challenges when applying for a mortgage because of irregular income streams. But with the support of expert brokers, like us, we can present your case clearly to lenders to maximise your chances.

Locum doctors may be viewed differently to lenders. It depends on how your role works — for example, are you salaried or self-employed? Typically, you’ll require a minimum of 6 months’ income as a locum in order to get a mortgage. Though, some lenders may ask for 12 months’ payslips if you work as locum or do bank shifts.

If you want to talk about getting a mortgage as a doctor, get in touch with us. With years of experience securing mortgages for professionals, we’ll help you to find the right mortgage and support you through the application process, every step of the way.

Your home may be repossessed if you do not keep up repayments on your mortgage.