Helping Doctors Get Mortgages

Join me in this informative episode of the Helping Doctors Get Mortgages podcast as we delve into the world of re-mortgaging for doctors.Whether you're nearing the end of a fixed rate deal, considering a variable rate option, or exploring the idea of letting your property out, this episode has got you covered.In this episode, we'll provide invaluable insights on how doctors can strategically navigate the re-mortgaging process within six months of a fixed rate deal ending. We'll consider the advantages of re-mortgaging during the fixed rate deal's final months, highlighting the potential for securing a more favorable interest rate or adjusting mortgage terms to better suit your financial goals.And explore whether you can save money by re-mortgaging when on variable rate deal. Additionally, we'll dive into the realm of letting your property out, and the mortgage requirements there.Tune in to this episode to gain valuable insights and expert advice on re-mortgaging as a doctor. By understanding your options and making informed decisions, you'll be well-equipped to optimize your mortgage arrangement, strengthen your financial position, and achieve your long-term goals.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

In this episode of the Helping Doctors Get Mortgages podcast, we take a look at how student loan debt can affect a Junior Doctor Mortgage. Join Russell Maggs, a specialist mortgage and protection adviser as he explains the key "debts" and how they may affect you when it comes to sorting a new mortgage.As a junior doctor, you will likely still be repaying your formal student loan and may have other loans for further studying. These have the potential to reduce your mortgage borrowing as a junior doctor, depending on the level of other credit outgoings you have.This includes credit cards and overdrafts. If you have a healthy deposit it may be worthwhile moving that money and paying off your overdraft before applying for a new mortgage. But it's worth discussing with a mortgage adviser before making that decision. As the benefit of doing so varies from person to person. In the early stages of your career as a junior doctor, you will likely move around a lot. Which could lead to credit issues. These can be problematic when it comes to sorting a mortgage. Especially if they're still outstanding! If you're a junior doctor looking for your first or next mortgage - then this video is for you. To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

In this episode of the Helping Doctors Get Mortgages podcast, we take a look at three ways you can sort your new mortgage as a locum doctor.  Join Russell Maggs, a specialist mortgage and protection adviser as he explains the key differences between getting a mortgage from your bank, online or through a mortgage adviser.  As a locum doctor, the nature of your pay can make it difficult to arrange a new mortgage. And Russell has detailed this in other videos. And this means that approaching your bank can be troublesome, and searching online can be time consuiming.  It is rare that the specialist locum doctor mortgages Russell organises have market leading interest rates. They'll still be highly competitive. But they may not be the very best available on the market. If you're a locum doctor looking to buy, refinance or invest in property - then this video is for you. To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

Welcome to the Helping Doctors Get Mortgages podcast! In this episode, we delve into the complexities of obtaining mortgages for junior doctors on fixed term contracts. Join Russell Maggs, a specialist mortgage and protection adviser, as he sheds light on the challenges faced by junior doctors when approaching mortgage lenders.The episode begins by addressing the key issue of how rotational contracts are perceived by mortgage lenders. Russell highlights the variations in how different banks assess such contracts, emphasizing the importance of understanding these differences.Russell discusses the treatment of work schedules by mortgage lenders. He explains how lenders consider basic salary and additional income during rotations, often using only a portion of the extra income. Russell emphasises the need for extensive documentation, such as three months' payslips, which can pose challenges for doctors on shorter rotations.Finally, Russell explores the viability of obtaining mortgages based on new contracts. While conventional wisdom suggests a need for several months' employment before securing a mortgage, Russell dispels this notion. He reveals that some lenders accept new contracts as evidence and can factor in income increases. However, he advises caution, noting that only a select few lenders adopt this approach.Throughout the episode, Russell shares valuable insights and strategies to navigate the hurdles faced by junior doctors seeking mortgages on fixed term contracts. Leveraging his experience and industry contacts, he aims to negotiate bespoke deals that circumvent traditional rules imposed by high street banks and building societies.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

Welcome to the "Helping Doctors Get Mortgages" podcast, where we provide valuable insights and guidance for doctors navigating the mortgage process. If you're an F3+ locum or considering transitioning into locum work, this episode is tailor-made for you.Join Russell Maggs, a specialist mortgage and protection advisor, as he shares his expertise in helping doctors with complex income scenarios. Russell's mission is to assist doctors in buying, refinancing, and investing in property without conforming to the traditional rules set by big banks and building societies.In this episode, Russell sheds light on how most mortgage lenders perceive locum work, which is technically a zero-hour contract role and the challenges doctors face in demonstrating a sustainable income, especially if they're new to locum work. However, there's good news for locum doctors seeking financing options.Tune in to the "Helping Doctors Get Mortgages" podcast for essential insights into securing a mortgage as a locum doctor. Russell's expert advice and insider knowledge will empower you to make informed decisions about your property goals. Remember, you don't need contracted hours to achieve your homeownership dreams. Let us guide you through the complexities of the mortgage process. To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

In this episode of the Helping Doctors Get Mortgages podcast, we delve into the world of junior doctor mortgages and how rotational contracts impact your borrowing potential. If you're a junior doctor seeking clarity on mortgage options, this video is for you!Join Russell Maggs, a specialist mortgage and protection advisor, as he explores the nuances of fixed-term contracts, work schedules, and the challenges of starting new jobs as a junior doctor. Discover how mortgage lenders assess rotational contracts and the importance of having a solid employment history.Discover a top tip for leveraging your income growth as a junior doctor, with mortgage lenders who acknowledge your professional status and offer increased borrowing capacity based on your career progression.Whether you're approaching the end of your current contract or starting a new one, this video provides essential information to help you make informed decisions about junior doctor mortgages. Stay tuned for more helpful podcasts from Russell Maggs as he shares his expertise in helping doctors with complex income buy, refinance, and invest in property.Listen now and take the first step towards securing the right mortgage for your future.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

Are you a locum doctor looking for a mortgage? In this video, we explore whether Halifax is the best mortgage lender for locums. If you've done some research, you might have come across forums discussing different options with Halifax. However, there are important factors that aren't clearly stated in their policy. That's where a specialist mortgage and protection advisor like myself can help. As an advisor who specialises in helping doctors with complex income, I leverage my industry experience and contacts to provide you with a tailored solution.  Keep in mind that Halifax's mortgage deals may not always be the most suitable. To determine the best option for your circumstances, it's advisable to consult with a mortgage advisor who understands the nuances of Halifax's locum doctor policy.Speaking to an advisor can help you navigate through potential complexities and ensure you make an informed decision.Thank you for listening to this video. Apologies for any interruptions caused by the wifi signal. If you found this information helpful, please consider subscribing to our channel for more insights and guidance. Take care, and good luck with your mortgage journey!To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

In this episode of the "Helping Doctors Get Mortgages" podcast, we explore the main differences between fixed and variable mortgage rates for locum doctors. Here's a summary:Fixed-rate mortgages have a set interest rate and monthly payment for a specific period, providing budgeting stability. However, if rates decrease, you'll be locked into the higher rate and if rates rise might face financial shock when the fixed period ends.Variable-rate mortgages fluctuate based on the Bank of England base rate, resulting in flexible monthly payments. While they offer the potential for savings if rates decrease, they can also increase if rates go up.Regularly reviewing your mortgage is crucial, whether you have a fixed or variable rate. Variable-rate mortgages allow more frequent reviews, while fixed-rate mortgage holders should start reviewing their options a few months before the fixed period ends.Consulting with a mortgage broker is important to understand the best option for your individual circumstances.Join us as we delve deeper into these concepts and provide valuable insights on securing the right mortgage as a locum doctor.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

Welcome to "The Helping Doctors Get Mortgages" podcast, where we provide valuable insights and guidance specifically tailored to locum doctors. In this episode, we delve into the topic of mortgages in principle for locum doctors and shed light on its significance in the home buying process.Hosted by Russell Maggs, a specialist mortgage and protection advisor with extensive experience in assisting doctors with complex income, this podcast aims to empower locum doctors to buy, refinance, and invest in property without conforming to traditional banking rules.Whether you're a locum doctor or simply interested in understanding mortgage in principles, this podcast equips you with valuable insights, expert advice, and practical tips to ensure a smooth home buying journey.Tune in to "The Helping Doctors Get Mortgages" podcast and let Russell Mags guide you through the intricacies of securing the right mortgage for your unique circumstances.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

In this episode of the the "Helping Doctors Get Mortgages" Podcast, we address a common question asked by self-employed locum doctors: Can you get a mortgage? Join us as we explore the different options available to locum doctors seeking a new mortgage.Whether operating as a sole trader or as a limited company director - your personal income will likely be averaged over two to three years of locum work. Meaning you could have to wait a long time to get a mortgage as a locum doctor and not have all of your income considered as using historic income doesn't usually reflect your current earning potential accurately.As a locum doctor working underneath your own limited company, mortgage lenders focus on the income you've drawn from the business, which might be significantly less than your actual company earnings. Which could be even less advantageous.To address these challenges, specialist mortgage deals are available for locum doctors. These deals consider your invoices over the past three to six months and average your weekly earnings to determine affordability. Allowing you to borrow more and buy sooner than traditional routes.As a specialist mortgage and protection advisor, my goal is to help doctors navigate the complexities of securing mortgages, refinancing, and investing in property without conforming to conventional rules set by major banks and building societies. By leveraging industry contacts and experience, I strive to negotiate favorable deals that would otherwise be challenging to obtain.Join us as we delve into the details of securing a mortgage as a self-employed locum doctor. To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

Are you a locum doctor looking to buy your first home but struggling to save for a deposit? In this video, we delve into the world of mortgages for locum doctors and introduce Skipton Building Society's track record mortgage, offering a unique opportunity for aspiring homeowners. Join us as we break down the eligibility criteria, explore the application process, and analyse the potential benefits and risks associated with this no deposit mortgage option. From understanding household-to-household criteria to documenting rent payments, we provide valuable insights to help locum doctors navigate the mortgage landscape. Discover if this exclusive offering is the right fit for your homeownership goals and learn about other low or no deposit mortgage alternatives available to you. Don't miss this comprehensive guide to mortgages for locum doctors, presented by Russell Maggs. Subscribe now for more helpful videos on personal finance and home buying topics!To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

In this episode of "The Helping Doctors Get Mortgages" podcast, specialist mortgage and protection advisor Russell Maggs discusses the possibility of getting a mortgage as a locum doctor with a low deposit. Russell provides information on the level of deposit required to purchase your own home and investment properties or second homes. He also explains no deposit mortgage options. And ways to buy a home without putting any of your own money into the property.Russell explains that he can help clients negotiate a bespoke deal that suits their income and circumstances by using his industry experience and contacts within big banks and building societies. For locum doctors, there are specialist mortgage deals available that allow the use of an average of weekly earnings from the last three to six months' worth of pay slips or invoices (depending on whether you're employed or self-employed), and these deals require only a 5% deposit. Russell advises that more options will become available with a larger deposit, but the deals will depend on the lender and can change daily. If you're a locum doctor with a low deposit and looking for mortgage options, tune in to this informative podcast.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

In this episode of the "Helping Doctors Get Mortgages" podcast, specialist mortgage and protection advisor, Russell Maggs, discusses how locum doctors can buy their second home. He covers three different scenarios: buying a second home as an investment property, buying a holiday home or a "pied-à-terre," and "Let to Buy," which involves turning one's current home into an investment property and buying a new home to live in. For investment properties, most mortgage lenders require at least a 25% deposit, but in some areas, a 30-40% deposit may be necessary due to high house prices relative to rental values. Russell Max also provides information on how self-employed locum doctors can benefit from buying a new property through a special purpose vehicle (but speak to a tax adviser too...)To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

This episode of the Helping Doctors Get Mortgages podcast discusses how locum doctors can get mortgages, especially if they are newly qualified, work a second job as a locum doctor, or work as an F3+ locum. The podcast also covers the issues that newly qualified GPs working as locums face, especially when operating as a traditional self-employed person. Hosted by Russell Maggs, a specialist mortgage and protection advisor, the podcast provides tips for locum doctors to buy, refinance, and invest in property.The episode highlights the challenges that mortgage lenders face when assessing the income and experience of locum doctors with multiple jobs, and how some lenders might only use a small proportion of the income declared by the applicant. Overall, the episode provides valuable insights into the complexities of getting a mortgage as a locum doctor and the options available to overcome these challenges.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

This episode of the "Helping Doctors Get Mortgages" podcast covers how mortgage lenders calculate income for locum doctors, including those working on payroll and those who are self-employed sole traders or limited company directors. Mortgage lenders will view on-payroll locum doctors as zero-hour contract employees and will typically want to see substantial history of their work.For sole traders & ltd co directors, mortgage lenders will normally want at least two to three full year's worth of tax returns. But there are mortgage lenders who offer a unique way of assessing the income of locum doctors. The speaker in this podcast is a specialist mortgage and protection advisor named Russell Maggs. He helps doctors with complex income to buy, refinance, and invest in property by negotiating something bespoke for them. To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

Are you a locum doctor wondering if you can get a mortgage with multiple jobs? In this episode, mortgage broker Russell Maggs explains what lenders are looking for when considering a locum doctor's application for a mortgage. He covers working a second job as a locum doctor, working for multiple employers or agencies, and how many hours a week you're working. Russell explains that working multiple jobs may affect your ability to get a mortgage, as some lenders won't consider all of your income. However, he also shares his experience working with lenders that understand how locum doctors work and how they can offer more options for you. Listen to this episode to learn more about how to get a mortgage as a locum doctor.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

In this video, we discuss the challenges locum doctors face when trying to get a mortgage and how to overcome them. Many mortgage lenders are hesitant to lend money to locum doctors because they often lack the necessary experience in their field or have irregular incomes. These issues can cause problems for those looking to buy a home or refinance their existing mortgage. We examine these problems in detail and offer advice on how to navigate the mortgage market as a locum doctor. Russell Mags, a specialist mortgage and protection advisor, explains how he can help doctors with complex incomes negotiate the mortgage market and find lenders who are willing to take a bespoke look at their income. If you're a locum doctor looking to buy a home or refinance your mortgage, this video will offer valuable insights into how to navigate the mortgage market and overcome the challenges that you may face.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

In this video, I address the concerns of doctors who worry about their mortgage applications getting rejected. The key reasons why mortgages for doctors may be rejected, and provides tips on how to avoid them.I urge doctors not to worry as there are options available for you, there are ways you can increase your chances of getting approved for a mortgage and consulting a specialist mortgage advisor can help you navigate the market successfully.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

Many locum GPs struggle to find mortgage lenders who understand their unique financial situation. But don't worry, in this video, we'll walk you through everything you need to know about locum GP mortgages.It's essential to understand that lenders may view your income differently from that of a salaried GP. Therefore, you may need to provide additional documentation, such as evidence of your income over an extended period.However, there are lenders who specialise in providing mortgages to locum GPs. These lenders understand the unique nature of your income and can offer more flexible lending criteria.To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...

Are you a locum doctor struggling to secure a mortgage? If so, you're not alone. The irregular and unpredictable nature of your income can make it challenging to convince banks and building societies to lend to you. But don't despair! In this video, specialist mortgage broker Russell Maggs explains the three biggest issues facing locum doctors when it comes to getting a mortgage, and offers expert tips on how to overcome them.Russell dives into the details of fluctuating income, irregular payment schedules, and limited work experience, and explains why these factors make it difficult for traditional lenders to approve your mortgage application. But he also shares his strategies for negotiating bespoke deals that take into account your unique income situation, using your average weekly income over the last three to six months as a starting point.With Russell's help, you can learn how to navigate the complex world of mortgage applications and secure the financing you need to buy or invest in property. So if you're a locum doctor feeling discouraged by the mortgage process, don't miss this informative video. To connect with me on social media, please use one of the following links;LinkedIn | https://www.linkedin.com/in/russellmaggsInstagram | https://www.instagram.com/russell.mag...Facebook |  https://www.facebook.com/maggsfs/Twitter | https://twitter.com/russell_maggsfsWebsite | https://maggsfs.co.uk/mortgages-for-d...