Doctors, dentists, lawyers and other wealthy professional borrowers are being targeted by lenders with special mortgage deals that are more flexible than standard offers on the high street. They can be a lifeline for some professionals who, despite earning good salaries, can struggle to secure a deal from some mainstream lenders. However, because these deals typically do not offer the best rates, borrowers need to tread with care.
Aaron Strutt, of the broker Trinity Financial, says: “Regular banks are often more than happy to lend to professionals, although their mainstream criteria isn’t always sufficient.”
Many professional borrowers have irregular earnings or several different sources of income — for example, a doctor might do a mixture of regular, locum and private practice work. The biggest banks