If you are a New GP partner it can sometimes be a struggle to get a Mortgage. Most lenders will require between 1-2 years of self employed income proofs. However we have access to lenders that will consider a Mortgage application from a newly appointed GP partner. As long as the practice the new partner is joining is established,then we can look to use the new partners share of profits for income and affordability.
New Partner in Established GP Practice Requirements.
In order to be considered for a Mortgage as a newly appointed partner, the Practice you are joining must be established.. If this is the case, then we can look at securing a Mortgage based on your shareholding in the practice.
In order to support your application, we would need the following from you.
- A Letter from the Practice Manager confirming your shareholding and your projected share of the Practice Profits, this will be the income used for affordability,
- A copy of the last 3 Months Practice Business Bank Statements
Other than that,all that will be required is ID and Address proofs in most cases.
So, why not get in touch and see what options are available to you, if you are about to join or have recently joined a new Medical Practice as a GP Partner.
Michael Markey has over 25 years experience in helping professionals like GP”s secure the right Mortgage based on their needs and requirements. Michael, will be happy to help you with your Mortgage needs and answer any questions you may have.
Call us Now on 0141 280 1992 or use the contact form and we will call you back
Michael Markey CeMap, CeRER Professional Mortgages Specialist