As a newly qualified medical doctor, that has recently completed their junior doctor training, you may will be embarking on the will trodden Locum GP route. However, when it comes to finding a mortgage for a locum GP, many lenders are simply not interested.
As a Locum GP, you are likely to be on some form of rolling contract with an agency or practice. This can present a problem for many lenders, who are unwilling to consider applications from a Locum GP, who do not have the desired permanent position or partnership within a GP practice.
Will you be classed as a locum GP?
Lenders will class you as a locum GP, if any of the following apply:
you work for an agency, you have no permanent contract of employment or you work in any form of freelance basis.
Clearly this can be an issue, as many Locum Doctors have found out.
Are There Any Mortgage Options for a Locum GP?
Yes, there are lenders available that will consider a Mortgage applications from Locum Doctors. At Mortgage Advisor Glasgow, we have access to specialist Lenders that will look sympathetically at an application from Locums.
As long as your are engaged in paid work as a Locum, there maybe Mortgage options available.
You should also be aware, that while these lenders specialise in helping medical professionals such as Locum Doctors, this does not mean you will pay a premium. The rates offered by these lenders is on par with and some cases better than rates offered by High Street Lenders.
Each lender we work with has been carefully chosen to meet the needs of Locum GP’s and Doctors. Using our experience and contacts, we are often able to assist, where others can’t.
If you need help or advice on finding a Locum GP Mortgage, then please get in touch and one of our experienced Mortgage Advisers will be happy to help you. Use the Call Me Back button or simply call us on 0141 2801992 now.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE