Mortgages for dentists

To find the right mortgage for dentists, it is important to speak to a specialist advisor who understands your profession and income well.

Our team of highly qualified brokers has over 20 years of expertise with helping dentists find the best mortgage rates and deals. With so much experience, we know exactly which lenders will work best for mortgages for dentists and other medical professionals.

You can save on your repayments by speaking to a skilled advisor with access to a wide range of mortgage deals and lenders. Our advisors can compare thousands of deals across over 50 of the UK’s top lenders, saving you time and money.

As of 2021, there were around 37,200 dentists working in the UK, with around 40% of people visiting their dentist twice a year.*

Mortgage advice for dentists

The best way you can find a great mortgage for dentists is by making sure you are getting the right advice. Advice from a highly experienced broker can make a big difference in the ease and speed of getting your mortgage loan approved.

By speaking to an advisor with the right experience, you have a better chance of finding the most competitive rates available for dentists mortgages. Our skilled mortgage brokers have access to a wide panel of lenders and will be able to compare hundreds of deals to find the best rates.

It can be tricky to find the right mortgage for dentists, so it is worth consulting with a qualified mortgage expert. Getting the correct advice can be vital, especially with non-standard or complex income.

How does mortgages for dentists work?

Dentists shouldn’t find it overly difficult to get a mortgage in most cases, with some excellent rates and deals available. As a medical professional, having a skilled job role and higher income can be looked on favourably by lenders.

There are certain factors though that can complicate a dentists mortgage application. Your income will be one of the biggest elements assessed by lenders and this is not always straightforward for dentists.

This can be due to being self-employed or running your own dental practice, making your income more complex. There will be factors lenders will take into account, such as whether you have your own limited company, equalling dividends and company accounts to consider.

We can help if you:

Are a sole trader
Own a limited company
Have a new business with less than 3 years accounts

Some other key areas in which we can help dentists with their mortgages include:

Trainee dentists
Newly qualified dentists
Dentists with a poor credit history
Dentists who have multiple streams of income

Which are the best mortgage lenders for dentists?

When thinking about borrowing and how much you can afford for the repayments on your mortgage, you want to be sure you are choosing the best mortgage provider.

It isn’t always simple to find the right lender. This is why it is worth speaking to a broker who is familiar with how mortgages for dentists work and which lenders will offer the most competitive rates.

The best mortgage provider for you can also vary depending on personal circumstances, with some specialist lenders better suited to areas such as self-employment or poor credit.

Our team of skilled brokers have access to a panel of over 50 of the UK’s top mortgage lenders. Some of our top mortgage lenders for dentists include:

Accord Mortgages
Barclays
HSBC
Halifax
Natwest
Santander
Newcastle Building Society
And more…

Every lender’s criteria for borrowing will vary, so the lender that works best for you will depend on your income, credit history, the property type and mortgage type you want.

How to find the best mortgages for dentists

When applying for a mortgage or remortgage for dentists, there are many things that will affect the rates available to you. This includes the way in which you apply.

The most common ways to apply for a mortgage are:

By speaking to a mortgage advisor or broker: this will allow you to compare a wide range of deals across many lenders, alongside expert advice and support. This will usually be the easiest way for borrowers to find great mortgage rates and deals.
Applying with a bank or building society directly: some borrowers will find this a good option, especially if there are no complications due to factors like credit history. Your options can be more limited though, as you will only be able to access the rates available from one lender.
Applying online or via a price comparison website: this can be a popular option to find available mortgage deals. This can work well for some buyers, but it can be confusing and time consuming to go down this route without additional support.

It can be a long process to find the right mortgage deal but getting the right advice can help you speed up this process. By speaking to a qualified broker, you can receive expert help and support with every step of your mortgage application.

Best home mortgage for dentists

A common type of mortgage product we help with is dentists looking to buy a new home or remortgage. Residential mortgages are widely available meaning you should have a wide range of great options to choose from.

Some important things to think about when applying for a mortgage are:

Do you want a repayment or interest only mortgage?
Your credit history/credit score
Deposit amount (loan to value or ‘LTV’)
Budgeting for additional fees e.g. valuation costs and stamp duty
Interest rate type (fixed rate vs variable rate)
If remortgaging, does your current mortgage have early repayment charges (ERCs)?

Mortgage for new dentists

If you have recently qualified as a dentist, you could find it harder to get a mortgage due to starting in a new job role, with limited career history.

There can be other options available for newly qualified dentists, to make it easier to get a mortgage if you have a poor credit history or lower income.

Mortgage types that can work well for new dentists include:

Shared ownership mortgages
Guarantor mortgages
Joint mortgages
Mortgages bought with buyer support schemes (e.g. Help to Buy equity loans)

The best way to find a mortgage for new dentists is to speak to a broker who will know which mortgage type and lender will work well for your needs. If needing a specific type of mortgage such as buy to let mortgages, it is definitely helpful to speak to a specialist broker for advice.

Mortgages for self-employed dentists

Many dentists work on a self-employed basis, often with a limited company or partnership with another dentist. If you are classed as self-employed there are additional requirements lenders will have before approving your mortgage.

Lenders will usually ask:

How long you have been self-employed for?
Can you evidence your income?
Do you have an accountant and up to date accounts?
Do you receive your income via salary, dividends or other sources?
Can you provide 3 or more years of accounts?

Lenders will also want to see if possible:

Your accounts
An accountants reference
Your salary and/or dividends
A self-assessment tax return (SA302)
Company trading history

Mortgage brokers for dentists

Our highly skilled qualified brokers have helped to find great mortgages for dentists, with over 20 years of experience. We know financial services and mortgages in particular incredibly well, meaning we are well placed to offer relevant expert advice.

Dentists mortgages is an area which we specialise in and we can make sure you don’t waste any time applying to the wrong lenders or looking at deals that won’t work for you.

You should be able to access some brilliant deals with the right advice. We know exactly what the requirements will be for mortgages for dentists and which lenders will offer the best rates.

*according to Statista.com