Optometrists enjoy many benefits in their jobs. The work is very rewarding and they often get to work sociable hours. Being able to secure a mortgage is another perk of working as an optometrist. Whether you are at the start of your career or nearing retirement, it’s never too early or late to think about getting a mortgage.
As an employee on a permanent contract, you will likely be able to borrow around 4x your annual salary. By approaching the right lender, you might even be able to borrow 5-6x your annual income. That’s where Niche Mortgage Info can help.
We’re experienced in dealing with optometrists looking for a mortgage. We can help you navigate the options available to you. We can also help with the application process to ensure you present yourself in the best possible light to lenders.
Read on to find out about optometrist mortgages for every stage of your career.
Mortgages for optometry students
If you are still studying to be an optometrist and are nearing graduation, you may be able to secure a mortgage. If you have a formal job offer lined up, you may be able to use this to get the ball rolling on your mortgage. At the very least, you should be able to get a mortgage in principle which will allow you to start looking for houses.
If you are unable to secure a mortgage because you are a student there may still be a solution. A guarantor mortgage would allow you to nominate a friend or family member who would co-sign on your mortgage. They won’t be on the title deed and they won’t own any of your property, but they will be responsible for making payments if you are unable to do so.
Mortgages for newly qualified optometrists
If you have recently qualified as an optometrist and want to get on the property ladder, you should be able to do so with no problems. You will be able to apply as a normal borrower with a permanent job contract. This will allow you to borrow around 4x your annual salary but approaching the right lender could mean you could borrow up to 5 or 6x your annual salary.
Mortgage for Optometrists with bad credit
If you have poor credit and are concerned this will hold you back, don’t be! Lenders include many different factors in their decision making process and your credit score is only a small part of the bigger picture. As you have a career as an optometrist, you will have a stable and steady source of income and this is often enough to put lenders at ease. You can read more about mortgages with bad credit here.
Buy to let mortgages for optometrists
If you are thinking about purchasing a buy-to-let property, we can help you navigate the process. You should have no problem securing a buy-to-let mortgage as an optometrist provided you can offer a bigger deposit. Unlike residential mortgages, most buy-to-let mortgages require a deposit of around 25% of the home value. In some cases, this could be as high as 40%.
How can Niche Mortgage Info help optometrists?
We can help you to navigate the home buying process and put you in contact with the mortgage brokers most likely to offer you the best deal. We can also help you to navigate the mortgage process to ensure you are confident every step of the way. And finally, we can provide guidance on a number of niche topics which are covered throughout this website. If you’re ready to start searching for your mortgage with Niche Mortgage Info, get in touch with our friendly team today.