Professional mortgages are offered to those working in medicine, teaching and the financial industries, but Bristol & West Mortgages has also added commissioned military officers to its list of borrowers.
The range is available to 15 professions offering loans to 100% LTV with enhanced income multiples of 5 x single, or 4.5 x for joint incomes. Only one applicant needs to hold a qualification, which also includes graduate police officers, civil servants and architects.
Mark Howell, head of marketing at Bristol & West Mortgages, says: “Where our product differs from others in this area is that we have kept the deal easy to use and simple to understand.
“We only have one income multiple – we haven’t confused the proposition with salary bands, we don’t do additional employment checks and we offer this product to one of the widest range of qualifications available.
He adds: “We know that brokers write significant volumes of business in this sector and we have deliberately designed the product with its uncomplicated structure with them in mind to help make their lives easier, particularly as we intend to launch with extremely competitive rates.”