Mortgage for Pharmacists

As a pharmacist, your job is often viewed by lenders as highly lucrative due to the stable nature of the profession. If you are looking at getting yourself a mortgage, then you need to have a mortgage broker that understands the field, in order to get the best possible mortgage for you. Here at Right Mortgage UK, we can help you to find the most desirable mortgage that meets all your needs, and get the lender that best suits your circumstances.

Buy To Let Mortgages For Pharmacists

If you are looking for a way to expand your income, or if you are looking to have some extra money for your retirement, then getting a buy to let mortgage would be a great way of doing this. If you have can prove that you have an income, then it should be no problem for lenders to offer you a mortgage. However, in order for you to get the best rates, you should speak to a professional mortgage broker, like ourselves.

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Mortgages For Pharmacy Technicians

Mortgages For Pharmacy Technicians

In order for a pharmacy technician to get the best mortgage on offer, you need to ensure that you have a lender that understands your income. If you work additional hours, do locum work or work weekends for example, your payslips may be varied. So it’s vital that you have a mortgage adviser that understands this and can present your application to the right lender. Even though you work under the principal pharmacist, you are still able to get the same advantages they do when it comes to getting a mortgage.

Mortgages For Locum Pharmacists

Locum pharmacists can either be employed or self-employed, and it’s important to know which one you are, when it comes to applying for a mortgage. If you’re employed, then income can differ from month to month, meaning you’ll need 3 months payslips and potentially P60’s, to show your history.  If you’re classed as self-employed, it means that lenders will typically want to see two years worth of accounts before they can offer you any rates. They need to see this so that they can ensure that you are financially stable and that it won’t be a high risk for them to lend to you.  However, we do have lenders available that will consider 1 years accounts if you’re self-employed as a Pharmacist.

Mortgages For Locum Pharmacists
teacher mortgage

Mortgages For Pharmacist Students

As a pharmacy student, there are more options available to you than what you may think. Due to the fact that most pharmacist students have no financial income, a lot of students try to wait until they have finished their qualification. However, if you are lucky enough to have a job lined up already or after you graduate, then you can easily get your mortgage application process underway.

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Frequently Asked Questions

Of course, self-employed pharmacists are eligible for a mortgage. The only difficulty is that the process may take slightly longer due to the amount of paperwork and proof of income that lenders ask for. As with most other self-employed people looking for a mortgage, with the majority of lenders, you will need to show at least 2 years’ worth of accounts in order for you to be considered. But there are some that will allow 1 years accounts, particularly in this line of work where you can evidence history in the industry.

Locums can get a mortgage, however, they may have some difficulties with lenders, as they will often require a lot of proof of a stable income. When it comes to applying for a mortgage, you will need a lot of paperwork, which can be difficult, especially if you are self-employed. We can help you work through, and ensure that we find the best mortgage for you.

Shared Ownership Scheme

This scheme allows you to part rent and part-buy your home. This makes it a good option for newly qualified pharmacists who begin their career in a lower wage bracket but know they often receive an increase in pay. This scheme allows you to make a more significant purchase for your home, even if you currently have a lower income. When you begin to earn a higher wage, you are able to purchase more shares in the property until you ultimately own the property.

Help To Buy Scheme 

This is one of the most used schemes that the government introduced. This scheme entitles you to 20% equity if the property you are interested in an eligible new build. The Help To Buy scheme also allows you to only use a 5% deposit. By taking advantage of the scheme, your mortgage will only be 75% of the original price, and you’ll receive better interest rates. 

This scheme is coming to an end shortly though and is only available for new build homes.