Resident doctors
Moving between trusts every year or so on fixed term training contracts worries some lenders, who prefer a permanent job. Others are used to it and accept training contracts without any fuss. Lenders also differ on whether they'll count extra pay such as on call supplements, weekend allowances and extra shifts, which can make a real difference to what you can borrow.
Consultants
Your NHS salary is straightforward. Private practice income is treated as self employed income, so lenders usually look at your tax calculations for it, typically over two years. If your private work goes through a limited company, lenders will look at it the same way they would for any company director.
Lenders also vary in how they treat additional programmed activities and clinical excellence awards. I'll check how each one would assess your full pay before recommending anything.
GPs
Salaried GPs are assessed like any employed applicant. GP partners are self employed, so lenders look at your share of the practice profit. If you've recently become a partner and don't have two years of figures yet, some lenders will still consider you.
Locums
If you work as a locum through an agency or your own company, lenders want to see a track record. Some will lend after twelve months of locum work, particularly if you were employed in the NHS before.
Higher income multiples
Some lenders let doctors borrow more than the usual four and a half times income, and a few will accept a smaller deposit. These deals aren't always the cheapest, so I'll show you what the extra borrowing costs before you decide.
Fitting around your rota
Whether you work at Wythenshawe, the MRI, the Christie, Salford Royal or anywhere else in England and Wales, most of the process can be done by phone, video and email. I'll fit calls around your rota where I can.
