Getting a Mortgage as a Dentist

Mortgages for Dentists

Finding the right mortgage as a dentist can be easier with help from a specialist advisor who understands your profession and income.

Our Expertise

Helping dentists find the best mortgage rates and deals with a personal one on one service. We know which lenders are most suitable for dentists and other medical professionals.

Save on Repayments

By consulting with a skilled advisor, you can access a wide range of mortgage deals and lenders, saving you time and money. Our advisors compare thousands of deals from over 90 top UK lenders to find the best options for you.

As of 2023, there were around 33,600 practicing dentists in the UK, with about 40% of people visiting their dentist twice a year*. In recent years the number of dental practitioners has generally decreased in the UK, since in 2015 there were still roughly 46 thousand dentists in employment.

Mortgage Advice for Dentists

Getting the right advice is crucial for finding a great mortgage. We can make the mortgage approval process easier and faster.

Our brokers have access to many lenders and can compare hundreds of deals to find the best rates for you. Given the complexities of a dentist's income, consulting with a qualified mortgage expert is essential.

How Mortgages for Dentists Work

Dentists usually find it relatively easy to get a mortgage due to their skilled job roles and higher incomes. However, certain factors can complicate a dentist’s mortgage application, such as being self-employed or running a dental practice.

We can help if you:

·        Are a sole trader

·        Own a limited company

·        Have a new business with less than 3 years of accounts

Key Areas of Assistance

We also assist with:

·        Trainee dentists

·        Newly qualified dentists

·        Dentists with poor credit history

·        Dentists with multiple income streams

Best Mortgage Lenders for Dentists

Choosing the right lender can be challenging. Our brokers know the mortgage market for dentists and which lenders offer the best rates. Our panel includes over 50 top UK mortgage lenders, such as:

·        Accord Mortgages

·        Barclays

·        HSBC

·        Halifax

·        NatWest

·        Santander

·        Newcastle Building Society

Each lender's criteria vary, so the best lender for you will depend on your income, credit history, property type, and mortgage type.

Finding the Best Mortgages for Dentists

When applying for a mortgage, several factors affect the rates available to you. Here are common ways to apply:

· Through a Mortgage Advisor or Broker: This allows you to compare many deals and get expert advice and support.

· Directly with a Bank or Building Society: This can be a good option if there are no complications like poor credit history, but your options may be limited to that one lender.

· Online or via a Price Comparison Website: This can be convenient but might be confusing and time-consuming without additional support.

Getting the right advice can speed up the process. Our qualified brokers offer expert help and support throughout your mortgage application.

Best Home Mortgages for Dentists

If you’re looking to buy a new home or remortgage, residential mortgages offer many options. Consider the following when applying:

·        Repayment or interest-only mortgage

·        Credit history/score

·        Deposit amount (loan to value or ‘LTV’)

·        Additional fees (e.g., valuation costs, stamp duty)

·        Interest rate type (fixed vs variable)

·        Early repayment charges (if remortgaging)

Mortgages for New Dentists

Newly qualified dentists may find it harder to get a mortgage due to limited career history. However, there are options available, such as:

·        Shared ownership mortgages

·        Guarantor mortgages

·        Joint mortgages

·        Buyer support schemes (e.g., Help to Buy equity loans)

A broker can help identify the best mortgage type and lender for your needs.

Mortgages for Self-Employed Dentists

Self-employed dentists often have additional requirements for mortgage approval. Lenders typically ask:

·        How long you’ve been self-employed

·        Can you evidence your income?

·        Do you have up-to-date accounts?

You may need to provide:

·        Accounts

·        An accountant’s reference

·        Salary and/or dividends

·        Self-assessment tax return (SA302)

·        Company trading history

Mortgage Brokers for Dentists

We offer simple, honest and straight forward advice as mortgage and protection advisors. We get to know you and work with you to get the best possible outcome. We understand the specific requirements and can ensure you don’t waste time on unsuitable lenders or deals.

With the right advice, you can access excellent mortgage deals. We know exactly what lenders require and which offer the best rates for dentists.

*according to Statista.com