5.5 times income Professional Mortgage for purchases with 10% deposit

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: • Accountants • Architects • Actuaries • Barristers • Chartered surveyors • Dentists • Medical doctors • Optometrists • Pharmacists • Solicitors • Veterinarians 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%. ++++++++++++++++++++++ ++++++++++++ To subscribe to this channel click on the link https://www.youtube.com/channel/UCWu0TaWlZ4z6mFknWxpJshw?sub_confirmation=1 ++++++++++++++++++++++++++++++++++ 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... T:0207 9932044 www.nicheadvice.co.uk ++++++++++++++++++++++++++++++++++ #ProfessionalMortgage #10%Deposit#5.5timesincome THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME OR PROPERTY. A mortgage or other loan secured against your home or property may be repossessed if you do not keep up repayments, or if you do not repay it at the end of the term. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the term of the debt and increasing the total amount you repay. Niche Advice Limited is a mortgage and credit broker, not a lender, and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Firm Reference Number: 750263. The Financial Conduct Authority does not regulate every mortgage or secured finance product. Commercial mortgages, business buy-to-let mortgages and some bridging finance are not normally regulated by the Financial Conduct Authority. Consumer buy-to-let and regulated mortgage contracts are treated differently, and the protections available to you depend on the product, the borrower, how the property is used and your circumstances.