Head of Content
Mortgage Advisor & Director
Are there specific mortgages for dentists?
Dentists have their own particular set of needs when it comes to a mortgage, especially if you are self-employed and combining NHS and private work. In some cases, lenders can be cautious about lending to self-employed dentists as your income is perceived as less stable as those in employment. This uncertainty can increase the risk to a potential lender.
Our experienced advisors will be able to help you secure the best rates on your mortgage, whether you are an employed or self-employed dentist.
How can I improve my chances as a self-employed dentist?
It can be frustrating to be rejected for a mortgage when your salary is above the average, and you are in a secure profession such as dentistry.
There are a few things you can do to improve your chances:
- Organise your finances - include two or more years of accounts to demonstrate that your income is stable.
- Save more towards a deposit - if you can reduce your Loan to Value ratio you will be able to access more favourable rates.
- Speak to a whole-of-market advisor - At Teito we have access to deals not available to the general public, including specialist lenders for professionals. Using our industry knowledge, we can determine which lenders are more likely to approve your application - avoiding a hard search on your credit record.
How much can I borrow?
All lenders have their own affordability criteria, but generally, you can expect to get between 4.5 to 5 times your salary, with some going to 6 times your salary
What other factors will have an impact?
Other factors that will affect the mortgage agreement for dentists are the size of the deposit, credit history, age, property type and the number of dependents.
How can I learn more?
Our experienced advisors have helped other dentists to get market-leading deals on their mortgage. By having access to the whole of the market, our team can deal with specialist lenders not accessible to the general public. Contact us today or complete our simple online form to get the process started.
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