We understand that not all dentists are the same, with varied employment types and company structures. This variance in employment status can cause confusion and occasionally lead to high street lenders declining applications, despite you being perfectly able to afford a home loan. 

At Specialist Mortgage Online, our brokers and advisers take the complexity and confusion out of the equation.

Our trusted experts have years of experience in helping those in the health care sector get mortgages, sometimes with better rates and deals that are available on the high street. 

To get started and to find out how our mortgage brokers for dentists could help you, call a member of our friendly team now or complete an enquiry form to get a call back.

Whether you are a self-employed dentist, working in the NHS, or newly qualified, our advisers should be able to find the best deal and rate for you. 

Who our mortgage brokers for dentists can help

Every single application that our advisers help with will be unique. They offer a bespoke and tailored approach to let you find the best deal and rate to suit your employment and financial status. The types of dentist mortgages we can help with include: 

  • Mortgages for dentists with bad credit
  • Mortgages for newly qualified dentists
  • Mortgages for dental assistants, maxillofacial surgeons, oral surgeons, orthodontists, paediatric dentists, periodontists, and prosthodontists
  • Mortgages for cosmetic dentists
  • Mortgages for dentists in training
  • Self-employed dentist, those in the NHS or with private practices
  • And any re-mortgaging requirements

Are there special mortgages for dentists?

Despite what you see elsewhere on the Internet, there aren’t actually special mortgages for dentists. However, there are advisers on our large panel who understand the complexities and employment practicalities of dentist contracts and businesses.

That puts them in a great position to offer mortgage advice to self-employed dentists, trainees, those in the NHS, or those running their own practices.

Home mortgages for dentists

The UK mortgage market has healthy competition these days.

A range of specialist lenders have popped up in recent years who are more prepared to work on non-traditional applications where employment and financial history could be a factor in being declined by high street lenders.

You might have been previously declined, but don’t let that put you off. Our advisers could very quickly find a suitable solution.

What is the best dentist mortgage?

Some lenders require lower deposits than others. Some lenders will offer preferable rates to people who are self-employed. Some lenders will even work with applicants who have poor credit history or defaults on their file. 

Our advisers could even help you apply to a lender who will offer a discounted rate to you as a professional worker.

Until you have spoken with one of our advisers though, there is no best product that will suit all applications.

That’s why it’s important to partner with an adviser who specialises in your type of employment.

Mortgage for self-employed dentists

If you are self-employed or working as a sole trader, lenders will assess your income based on your net profit or your self-assessment tax returns.

When you are self-employed, your wages will go up and down through the tax year. Our specialist mortgage brokers for dentists will need as much information as possible to get your application approved.

This will include SA302s or P60s form the last two years.

With that documentation, plus additional financial information, our brokers could work on averages for the past two to three years with the lender, hopefully resulting in them helping to find a deal to suit you.

And what if you only have 1 years’ worth of accounts?

Don’t panic as there could be some very good options available to you.

Mortgage for limited company dentists

In this example, dividends could make up a lot of your annual income.

Based on this type of business set-up, our advisers will still be able to work out how much you might be able to borrow, and which lender will offer you a mortgage in principle.

To progress on this basis, you will need to prepare your last three years’ worth of accounts plus copies of your SA302s.

Dentists in training or newly qualified

Every year a new batch of newly qualified dentists come out of training to work at surgeries around the UK.

You might have spent years away from home, renting near your university and are now ready to take up your first position and put down roots in a local area.

However, those in new employment with no prior working history and historical payslip information can come up against stumbling blocks with many lenders.

The majority of lenders will typically only lend to applicants that they view as low risk, with regular and stable income.

That might not be possible if you have recently qualified.

But again, please don’t panic. Our advisers have access to lenders who don’t have such strict lending criteria.

Our advisers will work with you to get an understanding of your current income, how it will progress, and then represent that to the lender in a tried and tested format that could lead to a successful application.

Contact us today for more information on home mortgages for dentists and how our advisers can help you get onto the property ladder.

If you are still studying to become a dentist, then we can also help you get onto the property ladder. We’ve published a guide to getting a mortgage even with student loan debt on our blog recently. 

What to do next?

Getting home mortgages for self-employed dentists or other workers in the dental industry doesn’t have to be complicated.

If you are looking to purchase a house remortgage for equity, to buy into a practice, or anything else mortgage related including property investment, then please get in touch with us today.

The team at Specialist Mortgage Online will able to introduce you to a dedicated adviser who specialises in your employment type making the process as simple and straight forward as possible.