Financing your home
Financing your home
When you are working in veterinary practice and looking for a mortgage, it’s likely that you will come across some obstacles when trying to find the right solution for financing your home.
A major reason for this is because in a lot of cases, mortgage lenders are not familiar with the way veterinary staff are paid.
Providing the right income confirmation to these lenders can become difficult – especially if you’re a Practice owner, self-employed or locum. This makes the process of arranging your own mortgage harder than it needs to be – let alone then finding one that is competitively priced.
As a locum, most lenders will consider you to be self-employed. This can cause issues when applying for a mortgage because the lender will need to see three years’ proof of income from self-employed applicants.
We also find that some locums will dip in and out of this type of work to suit their lifestyle or training obligations. Unfortunately, this often doesn’t fit with the income history required by lenders.
New in Practice?
If you have recently joined a practice as a partner or director, many lenders will consider you to be newly self-employed. As a result, typical high street lenders won’t consider a mortgage application from you for at least two years.
Your perfect solution
Our sister company ReSource Mortgages – an independent, specialist mortgage broker – provides you with the perfect solution when looking to finance your property.
ReSource are experienced in arranging mortgages for veterinary personnel and can take care of this on your behalf – removing the stress and ultimately allowing you to focus your time on caring for your clients.
Furthermore, they have the experience and expertise to source lenders that understand the veterinary profession and are more likely to offer preferential terms and lending criteria.
This means that the whole mortgage process is streamlined for your benefit. Ultimately, you will get the lender that best suits your circumstances at the best possible price.
Whether it is to request more information or send us some feedback, please do get in touch either by completing our Enquiry Form or contacting us on the details below.