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Applicants will need to be working as an Accountant, Architect, Barrister, Chartered Surveyor, Dentist, Engineer, Medical Doctor, Pharmacist, Pilot, Solicitor or Vet. 

Clydesdale Bank has increased its maximum income multiple from 5 to 5.5 times salary for newly qualified professionals.

The bank has a range of two and five-year fixes rates for first-time buyers and home movers providing they work in a qualifying profession.

Applicants will need a 5% deposit to qualify and the maximum loan size is £600,000. 

The enhanced income multiple is available when one or more of the applicants has become fully qualified within the last five years and earns more than £40,000 each year. There is no minimum period for experienced professionals.

Applicants will need to be working as an Accountant, Architect, Barrister, Chartered Surveyor, Dentist, Engineer, Medical Doctor, Pharmacist, Pilot, Solicitor or Vet. 

For joint applications where only one applicant is a classed as a professional, standard multiples apply to the additional applicant’s income. This is likely to be up to five times salary at 85% loan-to-value.

Aaron Strutt, product director at Trinity Financial, says: “Clydesdale is offering one of the lowest qualifying salaries for the 5.5 times multiple and its rates are competitively priced.  

“More of the lenders are offering 5.5 times salary mortgages providing applicants earn around £75,000 individually or £100,000 jointly. There are building societies offering more generous income multiples if you earn slightly less although the rates are more expensive.”

Call Trinity Financial on 020 7016 0790 to secure a Professional mortgage

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