Professional mortgages are available mainly for newly qualified doctors, dentists, accountants and solicitors. The list of eligible jobs to qualify for this type of mortgage will differ depending on the lender. They are set up on the principle that professionals will earn more money in time as their careers progress. Typically, they are 100% loans plus a possible 10% as a ten year unsecured loan once the mortgage is completed. Your deal may not require you to pay a Mortgage Indemnity Guarantee and some deals may pay costs.

If you graduated from a recognised UK university within the last 7 years, you will be eligible for a Graduate Mortgage. They usually work on the basis that having been a student, you do not have the money available for a deposit, so they offer a 100% mortgage plus a further 2% unsecured loan on completion. This cash can be used for anything from costs to paying off student debt. Many lenders may offer to pay costs as part of their deal.

Professional mortgages are also used by bankers, corporates and large associations.