Get a free copy of What Mortgage
Subscribe to What Mortgage Magazine
Enter your postcode here to find out how much your property is worth, based on Land Registry data.
Sponsors
Mortgage news
Lenders 'go further for professionals'
6 February, 2008
Mortgage companies are willing to "go further" for members of certain professions, one expert believes.
Richard Clark, head of product development and marketing for Scottish Widows, explained that people such as doctors, dentists, lawyers and other professionals were viewed favourably by lenders.
He said: "They [professionals] are the people who generally, because of their earning potential later on in their career, lenders will go further for in terms of the amount of lending they will do either on a loan to valuation basis or an income multiple basis."
Find out how much you can borrow
These two benefits would make it easier for members of such professions to obtain a suitable mortgage, he said.
Recently Paul Holmes, chief executive of Firstrung, said that he did not think that student loans - which many professionals will have taken out while at university - would affect a bank's lending decision when someone was looking to obtain a mortgage.
Get a free copy of What Mortgage magazine