In the pre-credit crunch era, it was not uncommon for building and banks societies to agree on great mortgages for expert customers.
Qualified doctors, solicitors, dentists and other specialists would often profit from improved revenue multiples, great value mortgages and professional underwriting because of the nature of their service. You can also hire Windsor mortgage specialist by clicking right here.
However, since 2008 lenders have tightened criteria for all types of borrower. This has included reducing the maximum ‘loan to value’ that is available as well as reducing income multiples for professionals seeking a large mortgage.
However, it is still possible to secure a high-value mortgage if you are a professional client. Keep reading to find out how. Building society offers enhanced professional underwriting on large mortgages
Mortgage Strategy reports that the East Midlands based Mansfield Building Society is changing its methods of calculating the maximum it will lend to high-value mortgage clients. This is designed to allow professionally qualified applicants to borrow more.
Professionals including doctors, lawyers and accountants will now be allowed to borrow up to 4.25 times their gross annual income up to a maximum of 90 percent loan to value. Other specialists eligible for the scheme comprise vets, pharmacist’s optometrists, barristers, solicitors, and dentists.