Mortgage For A New GP Partner
If you are a partner in a GP practice or have just joined a practice, you may find it difficult to obtain a mortgage. This is especially true if you are a newly qualified GP or have just joined the practice as a new partner. Many lenders will class you as newly self-employed and therefore reject your application. If you are looking for a mortgage as a new GP partner, then you have come to the right place, you will have access to advisers who have a wealth of experience in assisting both new and established GP s find a suitable mortgage.
Joining an Existing Practice as a New Partner.
There are several mortgage options available to GP s and by speaking to a professional mortgage broker such as Mortgage Advisor Glasgow we can assist you in finding a mortgage based on your current circumstances.
We can source mortgages from lenders who will consider newly appointed GP partners or existing partners. Using a lender that treats professionals in a sympathetic way, such as GP s means you can get access to competitive mortgage rates and deals from the whole of the market.
Using a good mortgage broker can help you find the appropriate mortgage based on your needs as discussed above. As we said earlier many high street lenders will simply decline your application, if you have insufficient accounts available.
However we can access mortgages for newly appointed GP partners who have no accounts. These specialist lenders know that as a GP you have a long-term future in your profession and due to the nature of the role, cannot really be described as a normal self-employed role. Joining an established practice, means you will not need to provide any accounts or wait a year before you can apply for a Mortgage…
As a new GP joining an existing practice, it is more than likely that the practice will already have a track record. The lender will take this into account and even if the practice has only been trading for a few years.
In most cases the lenders will request a letter from the practice manager, to confirm your expected income or share of the profits. This letter along with 3 months Business Bank Statements from the practice, is normally all we need to evidence your new income..
We have access to lenders who will consider the above scenario. Please also be assured that the lenders we source,will still offer rates that are comparable with most high street lenders. So you will not be penalised for being a new GP partner in this regard..
As a professional you will also have access to mortgages that take into account your special circumstances and professional status. This could range from offsetting your mortgage or having built-in flexibility to overpay and reduce the mortgage term, putting you in control of how and when you repay your mortgage.
Please get in touch with us now to discuss your mortgage needs. With over 25 years of experience in the mortgage market, we are confident that we can assist you in finding the most appropriate mortgage based on your current needs. Give as a call now on (0141) 280 1992 or use the call me back form on each page of the site, we will then call you back to discuss your needs.
Michael Markey CeMap,CeRER
