Dentist Mortgages – Mortgages for Dentists
Dentist Mortgages are simply mortgages for Dentists. Dentist mortgages are available to qualified, registered and practicing Dentists in England Wales and Northern Ireland. Dentists wishing to mortgage outside of the jurisdiction can be accommodated through our bespoke international mortgage solutions team. Mortgages for Dentists is a specialist area within Capital Fortune.
At Capital Fortune, we understand the Dentistry and the challenges of practice. We particularly understand the remuneration structure of Dentists both those employed and those working for themselves in private practice. Dentists requiring mortgages need to satisfy the mortgage lender that the loan is affordable, however, often Dentists may need to rely upon employed work, self employed income and sometimes locum income. As a result, gross earnings receipts, particularly when working in private practice may be significantly higher than net income.
Mortgages for Dentists – Employed Practice
Dentists are paid by their practice and can often undertake further freelance work inside the practice or for others to supplement their income. We work with lenders across a comprehensive panel of lenders and are able to speak directly to senior underwriters on your behalf to obtain an indication as to how they will treat the application. We appreciate that time is a premium to professionals and our role is to simplify the mortgage process, liaise with lenders and obtain a smooth conclusion to the mortgage transaction.
Our ability to contact senior underwriters on your behalf is also useful if you have changed address or employers during the last 6 years as whilst unusual for other professions, it is not for Dentists who may have moved practice.
Mortgages for Dentists – Private Practice
The costs associated with private practice including practice costs, travel, journal subscriptions and subsistence can reduce net earnings figures down to around 30- 40% of total receipts. As a result, standard mortgage income multipliers applied to the net income of Dentists can be unfair, as they do not reflect a Dentist’s true earnings capacity.
This coupled with the Dentist’s outstanding invoices to private patients and insurance companies may not be reflected appropriately when considering the true earnings capacity or net asset worth of a practicing Dentist. Mortgages for Dentists need to reflect the unique remuneration package generated by Dentists . Often a degree of diplomacy and negotiation is required when dealing with a Dentist’s mortgage application to a mortgage lender.
At Capital Fortune, we appreciate that ongoing trading and practice costs such medical supplies and corporation tax may not be immediate. Other costs are incurred throughout the year and as a result, Dentists through their distinct method of practicing have almost a rolling credit facility being operated which can justify a home mortgage lender to assess affordability on a gross earnings basis as opposed to a net income multiplier.
Capital Fortune deal with of significant number of Dentists in both employed and private practice. We have made mortgages for Dentists is a specialist area within the Company and as a Dentist seeking a mortgage you will receive our premier service.
We understand the pressures of the profession and understand that when arranging a mortgage deal our Dentists want to be sure in the knowledge that their mortgage will not only save them money, but also save them time and inconvenience.
All Dentists as part of or our Capital Fortune premier service can be dealt with over the telephone or visited at their place of practice or home. We will strive to take the difficulty and time element out of the mortgage application.
We will obtain all the necessary documentation from you after our first discussion and will avoid cascading you with a range of further information during the internet mortgage application. We will contact you via email, text message or mobile telephone at convenient times agreed by you.
We will obtain the most suitable and affordable mortgage product using a home mortgage lender from our online mortgage service list of providers. We can also obtain our best value mortgages specifically only offered to Dentists, which are not available on the High Street or through banks.
Once the mortgage has completed, your mortgage and mortgage protection needs will be constantly reviewed and in the event that new products become available, we will look to continually switch you to those products in order to increase the savings in a hassle free manner.
For more information on our Dentist mortgage premier service, call us today on 020 77 100 400 or Enquire Online.