As a regulated, highly respected member of the working world, it can seem ridiculous how complex it can be for you to get a mortgage.
We understand that most Barristers operate as self-employed individuals working in chambers with several different income streams coming from many different organisations at times. We even know that you might have some aged debt to contend with. All of these factors mean that you may fall outside of what the lenders consider to be a ‘bread and butter’ case & could benefit from some professional help.
As a Barrister, we know you have a hefty case load & often travel between several sites a day doing your work. We aim to take the stress away from the mortgage process & give you that time back while knowing that you have the support you need.
Barristers often need a more bespoke approach due to your complex income, high earning potential & often your higher NET Worth.
Get in touch today to discuss your circumstances.
A newly qualified barrister is considered a ‘Professional’ which means they are recognized by some mortgage lenders as having a job with a very high earning potential.. For that reason, some lenders may be willing to look at your situation on a manually underwrriten basis. When you start out, the majority of Barristers will be self-employed and in normal circumstances, you would be required to have one full years accounts before being able to secure a mortgage. However, in this profession, some lenders may be willing to look at projections from your accountants, accompanied by your most recent 3 months business bank statements showing your trading levels. You may be able to use this as a means of evidencing your income & therefore could, in some circumstances, secure a mortgage before you have been trading for a full year.
As a profession, the role of Barrister is widely considered a ‘sedentary’ role, which in simple terms means a job which doesn’t require you to do any manual work tasks like lifting heavy objects, moving around a lot etc. For this reason, often Barristers can comfortably secure a mortgage based on their earned income up to age 75 with a select number of lenders. Some lenders may even be willing to extend the mortgage end date beyond 75 with evidence of pension contributions/pension pot.
Your home may be repossessed if you do not keep up repayments on your mortgage
Whether you’re just getting started and want to learn more, already found your dream home to move to, or you’re remortgaging your current home, we’d love to help!
Plura is a trading style of Plura Mortgage Advice Ltd which is an Appointed Representative of PRIMIS Mortgage Network which is a trading name of First Complete Limited. First Complete Limited is authorised and regulated by the Financial Conduct Authority. Registered Office 25-29 Sandy Way. Yeadon, Leeds, LS19 7EW. Registered in England & Wales with company number 14931418. We charge a fee for Mortgage Advice, usually £395, but this can vary depending on the service you are receiving. We’re also paid commission from the lender
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK