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Barristers often require a bespoke mortgage arrangement that factors in their enhanced earnings potential and net worth. This can make applying for a mortgage challenging, and means finding the right mortgage broker that can offer accurate advice and a network of lenders is vital for success.
Yes, we can agree non-standard terms with a few select lenders that will use a projection of your first year’s earnings as a tenant and use this projection when carrying out their affordability assessment. The projection must come from the chambers’ clerk and is normally based on what past pupils have earned in their first full year as a member of the chambers.
You certainly can. Depending on how much you need to borrow, we’re able to negotiate terms with certain lenders where they’ll either use your first full year’s earnings towards affordability, or a projection of your future earnings if this is significantly higher and required to meet the desired loan amount. The projection needs to be backed up by a letter from your chambers clerk, receipt of payments into your bank account and billed work.
As long as there’s a track record of similar earnings, or your chambers clerk can support your income projection based on billed earnings, we’re able to agree terms with lenders that will base affordability on billed, as well as received, earnings.
Yes, we have access to lenders that’ll take a common-sense approach to how barristers are remunerated and are aware that your income increases exponentially following pupillage, therefore we can secure terms based on a projected income figure with the support of a reference from the chambers clerk.
We’ve arranged many mortgages for barristers that require funding for tax purposes. These mortgages are not commonly available on the high street, but we work with specialist lenders who recognise that barristers can encounter liquidity constraints due to their aged debt and will allow capital raising for tax purposes.
We have access to lenders that will allow an income multiple of up to six times annual earnings for barristers, which can make a real difference if you’ve been turned down by a high street lender and need a higher income multiple to borrow the amount you need.
Yes: the ability to do this hinges on the lender assessing affordability and plausibility of running two residential mortgages at once. We’ve had success explaining to underwriters that purchasing a second property is more convenient and time-efficient than a burdensome long commute, while also acting as a good long-term investment.
Yes, most underwriters are aware that barristers and KCs often work beyond the current state retirement age. We have relationships with many lenders who will consider a mortgage application up to age 75 or even 80, without requiring evidence of retirement income. Additionally, we can help secure a retirement interest-only mortgage to make provisions for an income reduction as you approach retirement.
Talk to us today to find out how we can help. Call us on 0161 486 9316, visit us at www.jordanlynch.com or find us on LinkedIn or Instagram.
Jordan Lynch has been arranging mortgages for barristers since 2006 and has a specialist team of advisors to provide a premium service to barristers, KCs and High Court judges in a time-efficient manner.
Telephone: 0161 486 9316
Email: barristers@jordanlynch.com
Website: www.jordanlynch.com
LinkedIn: /jordan-lynch-ltd
Instagram: @jordanlynch_mortgages
Head Office: Landmark House, Station Road, Cheadle Hulme, SK8 7BS
London Office: Ilona Rose House, Manette Street, London, W1D 4AL
Manchester Office: No1 Spinningfields, Quay Street, Manchester, M3 3JE
Barristers often require a bespoke mortgage arrangement that factors in their enhanced earnings potential and net worth. This can make applying for a mortgage challenging, and means finding the right mortgage broker that can offer accurate advice and a network of lenders is vital for success.
Yes, we can agree non-standard terms with a few select lenders that will use a projection of your first year’s earnings as a tenant and use this projection when carrying out their affordability assessment. The projection must come from the chambers’ clerk and is normally based on what past pupils have earned in their first full year as a member of the chambers.
You certainly can. Depending on how much you need to borrow, we’re able to negotiate terms with certain lenders where they’ll either use your first full year’s earnings towards affordability, or a projection of your future earnings if this is significantly higher and required to meet the desired loan amount. The projection needs to be backed up by a letter from your chambers clerk, receipt of payments into your bank account and billed work.
As long as there’s a track record of similar earnings, or your chambers clerk can support your income projection based on billed earnings, we’re able to agree terms with lenders that will base affordability on billed, as well as received, earnings.
Yes, we have access to lenders that’ll take a common-sense approach to how barristers are remunerated and are aware that your income increases exponentially following pupillage, therefore we can secure terms based on a projected income figure with the support of a reference from the chambers clerk.
We’ve arranged many mortgages for barristers that require funding for tax purposes. These mortgages are not commonly available on the high street, but we work with specialist lenders who recognise that barristers can encounter liquidity constraints due to their aged debt and will allow capital raising for tax purposes.
We have access to lenders that will allow an income multiple of up to six times annual earnings for barristers, which can make a real difference if you’ve been turned down by a high street lender and need a higher income multiple to borrow the amount you need.
Yes: the ability to do this hinges on the lender assessing affordability and plausibility of running two residential mortgages at once. We’ve had success explaining to underwriters that purchasing a second property is more convenient and time-efficient than a burdensome long commute, while also acting as a good long-term investment.
Yes, most underwriters are aware that barristers and KCs often work beyond the current state retirement age. We have relationships with many lenders who will consider a mortgage application up to age 75 or even 80, without requiring evidence of retirement income. Additionally, we can help secure a retirement interest-only mortgage to make provisions for an income reduction as you approach retirement.
Talk to us today to find out how we can help. Call us on 0161 486 9316, visit us at www.jordanlynch.com or find us on LinkedIn or Instagram.
Jordan Lynch has been arranging mortgages for barristers since 2006 and has a specialist team of advisors to provide a premium service to barristers, KCs and High Court judges in a time-efficient manner.
Telephone: 0161 486 9316
Email: barristers@jordanlynch.com
Website: www.jordanlynch.com
LinkedIn: /jordan-lynch-ltd
Instagram: @jordanlynch_mortgages
Head Office: Landmark House, Station Road, Cheadle Hulme, SK8 7BS
London Office: Ilona Rose House, Manette Street, London, W1D 4AL
Manchester Office: No1 Spinningfields, Quay Street, Manchester, M3 3JE
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