Head of Content
Mortgage Advisor & Director
Why are mortgages different for barristers?
Independent barristers can present a challenge to mortgage providers. As a high earner, you are an attractive borrower; however, as a self-employed professional with variable income, this brings complexity to the calculation.
There will always be mortgage borrowing available to a qualified barrister. However, the question is whether you are able to borrow at the level you are looking for while securing the best rates.
How much can a barrister borrow?
Some mortgage lenders may be willing to lend more than the average 4.5x income to a member of the Bar, depending on the size of deposit you can offer.
Seek specialist advice
An independent practitioner barrister is not a standard mortgage client and warrants a specialist mortgage advisor. If you are approaching a high-street lender, you may find the process frustrating and time-consuming.
As a whole-of-market provider, Teito can advise you on how to get the best deal possible as a barrister.
How to demonstrate your income
Your mortgage provider will be looking for income growth over time to try to make future predictions and provide you with the best rates. Here are a few tips to demonstrate your eligibility as a borrower to a mortgage provider:
- Document your profit over the past year
- Provide a reference from your accountant with a prediction of future earnings.
- Compile your average profit over the last two, three and five years.
- Include three months of bank statements.
You will save time by making sure all the documentation you provide is in the required format; contact our advisors to learn more on how to package your information correctly.
How can I learn more
We understand that every person has their own needs and wants when it comes to finding the best mortgage rates. That's why we have an experienced staff of advisors who can help find your perfect rate, no matter what kind of features you're looking for. Get started comparing deals today to see how we can help you!
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
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Last updated 28 February 2024