5.5 times income Professional Mortgage for purchases with 10% deposit
Can I get a mortgage 5 times my salary? – Best Deal Right Now?
The UK Mortgage Market has pretty much been stuck at 4.49 times income for cases with less than 15% deposit for months now so it’s refreshing to learn as we turn into February 2021 that we can now provide a solution for up to 5.5 times income for professional Mortgage applicants looking to purchase.
The provider is a specialist division of a major UK Bank and access is limited to Mortgage Brokers only, which of course includes Niche Advice.
Who is classified as a “Professional?”
The acceptable professions in alphabetic order are:
• Chartered surveyors
• Medical doctors
The qualification must align to one of the respective registered bodies and must be within the last 5 years.
Joint applications are allowed if one of the applicants is a professional.
Other Main Qualification Rules for the 5.5 times income mortgage are:
• The annual salary is £35,000.
• Minimum deposit 10%.
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If you’re looking to talk to a Mortgages Broker do get in touch with Payam Azadi at Niche Advice https://www.nicheadvice.co.uk/contact…
AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.
The content of this Video does NOT constitute giving advice it is purely designed for general information purposes only. The qualification for a mortgage will depend on your own individual circumstances, and your case should be fully discussed with a Professional Mortgage Broker before you apply. Niche Advice are Independent Whole of the Market Mortgage Broker dealing with different types of clients buying properties all across the UK.
Some Buy to let, and commercial mortgages are not regulated by the Financial Conduct Authority.
Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA No: 750263. The Financial Conduct Authority does not regulate Commercial Buy to Lets including some Bridging Loan products.
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