www . simplybizmortgages . co . uk 25
Andrea Roberts
National Account Manager ( North ) Hodge
The challenges of today ’ s economic climate , whether it be cost of living , interest rates or inflation , is impacting people across the UK . And despite misconception , socioeconomics like career , social class and location don ’ t make anyone immune to the encroaching impact of , yes , I ’ m going to say it again , the cost of living . That ’ s why I want to talk about the Hodge Professional Mortgage and how it can support professional clients to grab tomorrow ’ s dream , today .
Not only newly qualified , but established professionals , such as Doctors , Lawyers , Accountants and Solicitors are also seeing a strain on their finances . It ’ s taken them years of education and dedication to get the stage they ’ re at but they can be refused the mortgage they want based on complex income streams , self-employed status or lenders not recognising their occupation and salary trajectory .
Certain aspects of the professional mortgage market are very much underserved from a high street perspective , with lenders viewing some professional income streams too complex .
At Hodge , we ’ re always looking at products that can support customers and best fit their needs . That ’ s why we designed the
Hodge Professional Mortgage to support professionals on their property journey , offering the benefits of a bespoke mortgage , hand-in-hand with a quick and smooth mortgage offering . Available in both repayment and interest only , for those who want a little more flexibility in their monthly outgoings . It means they can climb the career and property ladder together . We ’ ve worked hard to get a comprehensive understanding of this niche market . We ’ ve spoken to brokers about their customers ’ needs , and we ’ ve found gaps so we can really help the underserved as our research shows there are a number of professional customers who still find it difficult to secure mortgage finance due to the complexities of their income . Whether that be self-employed , short-term contracts , new contracts or a mixture of income sources we ’ re able to offer a potential solution .
Just some of the professionals we ’ ve helped finance their dream home include : A first-time buyer , 30 year old barrister needing a 90 % LTV , a self-employed doctor with multiple income streams and less than 12 month of validated Locum invoices , and an established accountant wanting their projected income to be considered after a recent promotion .
What we offer on the Hodge Professional Mortgage :
1 Up to six times loan-to-income , including income from a ‘ nonprofessional ’ joint applicant
1 Up to 75 % LTV on IO and 90 % on repayment
1 A term to age 75 ( or specified retirement whichever is soonest )
1 We accept multiple income streams , including retained profits and 1 year ’ s accounts for the self-employed and we consider 100 % of validated income
1 And if it makes sense for them to make over-payments , we allow up to 10 % a year without penalty during their rate fix period
1 Dedicated underwriters experienced in income complexities
1 All applications manually assessed on a case-by-case basis
1 Available in repayment or interest
How Hodge can help
Our highly experienced underwriters will make the complex simple . As Professionals are often limited on time , we offer a bespoke service . We aim to make it easy to do business with us . Our professional mortgage offers a flexible solution with dedicated support throughout . From first enquiry right through to completion , a team of experienced business development managers and underwriters will be on hand to help .
For more information about the Hodge Professional Mortgage and to talk to one of Hodge ’ s business development team , please visit : hodgebank . co . uk / intermediaries