Professionals

LEGAL

We specialise in securing mortgages for barristers. We work regularly with local chambers in London and throughout the UK.
We advise and arrange property finance including main residence and second home finance, buy-to-let, and property development finance. If you need to finance property or land in the UK, we can help.

 

Income

As a barrister your cash flow can be your biggest issue, the nature of your work means that income is sporadic, due to the length of time cases can take to conclude or cases that suddenly have a change of plea and don’t result in the income you had expected.

 

Other issues affecting cash flow include ongoing debts owed by clients and solicitors and then there are your business debts to be offset against income such as chambers costs, travel costs, and legal subscriptions.

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Time
You work long hours and with heavy caseloads. We know how difficult it can be to get hold of you when you are preparing for a case, and we appreciate that you really don’t have time to be sourcing mortgages and taking time out of your day to meet with banks that spend several hours reading from a script and will only offer you, their products.
 

Prestige Private Finance set out to specifically offer mortgage solutions for barristers. We have addressed the income and time issues you face and offer a solution. We work with mortgage lenders that understand how a barrister is remunerated. We utilise
mortgage providers that are flexible in their lending criteria and that have specific criteria aimed at professionals such as barristers.
 

The lenders we work with include private, high-street banks and building societies, and lenders that exclusively work with brokers.

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MEDICAL

Doctors - Exclusive rates and lending criteria for healthcare professionals. Fox Davidson secures residential mortgages for doctors, surgeons, consultants, and other healthcare professionals. We work trusts to provide mortgages for NHS staff. We secure finance for all types of situations including:

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• Newly-qualified doctors

• Junior doctors

• Locum doctors

• Contractors

• Doctors with their own practice (limited company directors or partners in an LLP)

• Surgeons

• NHS staff on permanent and bank work

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DENTISTS

We secure mortgages for dentists, including orthodontists, periodontists, endodontists, oral surgeons, prosthodontists, and cosmetic dentists. We have lenders that consider basic employed salaries through employers such as the NHS as well as additional income from private work. For self-employed partners of dental practices, we work with mortgage lenders that can use the latest year’s income figures, an average of two or three years, and we have lenders that can work from projected income figures. If you are a self-employed dentist, you may wish to consider an offset mortgage.

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ACCOUNTANTS

Prestige Private Finance is a professional mortgage brokerage specialising in mortgages for accountants. We provide insightful, expert mortgage advice and can secure increased loan-to-values and income multiples for accounting professionals. We work with mortgage lenders that offer exclusive rates to professionals, including accountants.
 

Mortgages For Accountants: Key Criteria

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• 1 year’s accounts

• Recent change from sole trader or LLP to Incorporation

• Recent change to partner status (with small % of the LLP)

• 95% loan to value

• Up to 6 x income

• Utilisation of retained profits.

• Ability to use the latest years income in isolation (rather than average over 2 or 3 years)

• Short term contractors – Annualisation of the day rate.

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LAW FIRM PARTNERS

Mortgages for law firm partners are a specialist area of lending. Our repertoire of lenders includes private banks, high street banks, building societies, and broker exclusive mortgage providers.

Assessing your income
One of the main complexities in sourcing property finance for a law firm partner comes from the fact that, typically, a law firm partner will have a small percentage holding in the parent company. Profits are distributed and reported to HMRC by the partner via an online tax return. This method of income means you are classed as self-employed by the mortgage lenders.
 

Traditionally, high street banks require three years’ proof of income, but Prestige Private Finance can secure finance using just one year’s income. Where there has been a large increase in the latest year’s income, we can utilise lenders that will work from the most recent year’s income only.
 

We can secure finance using just one year’s tax return or we can utilise the income from the latest year only.

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VETS

Prestige Private Finance are a professional mortgage brokerage specialising in mortgages for vets. We work members of the British Veterinary Association to secure mortgages for qualified and practicing veterinary surgeons. 
 

Prestige Private Finance offer insightful, expert mortgage advice across the UK.
 

Mortgages For Vets: Key Criteria

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• 1 year’s accounts

• Recent change from sole trader or LLP to Incorporation

• Recent change to partner status (with small % of the LLP)

• 95% loan to value

• Up to 6 x income

• Utilisation of retained profits.

• Ability to use the latest years income in isolation (rather than

• Short term contractors – Annualisation of the day rate.

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PILOTS

Prestige Private Finance secure mortgages for Pilots and for Airline Crew & Cabin Crew. We are professional, across the market, mortgage brokers. We can secure mortgages for pilots, airline staff and cabin crew from high street banks, building societies and private banks and exclusive broker only mortgage lenders.

How do Mortgage Lenders Assess Airline Staff Income?
As you are paid PAYE via a permanent employment contract all mortgage lenders will use 100% of your permanent basic salary. The discrepancies between mortgage lenders appears when it comes to your extra income from allowances. Some mortgage lenders will not consider 100% of flight allowance pay for example, others may only take 50% of it whereas some will not use it at all.

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The difference in the amount you can borrow between the best and the worse lenders for Airline staff is huge. Therefore, it is important that you use a mortgage broker who uses a comprehensive panel which is representative of the whole of market, as some of the best lenders for Airline staff are not solely high street banks.

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