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Professional Income Boost
Help your client with our Professional Income Boost range
Key points for our Professional Income Boost products:
- Minimum age 21
- Minimum term 5 years
- Interest only or repayment
- Interest only to 70% max LTV and subject to an acceptable repayment strategy
- Minimum loan size: £100,000.
- Maximum loan size: £3,000,000 up to 80% LTV, £1,000,000 up to 90% LTV. Loans over this are priced on a bespoke basis and have restricted LTVs
- Loan to income up to 6 times to 80% LTV and 5.5 times to 90% LTV, subject to overall affordability
- Minimum income for the professional applicant is £30,000.
- Joint applications are considered, with a minimum income of £50,000. At least one applicant must meet the professional eligibility
Eligibility
- Permanent and full-time employment or self-employed with two years trading history
- Qualified, within the last ten years, and practising within one of the following professions:
- Actuary
- Commercial Pilot
- Pharmacist
- Accountant
- Dentist
- Medical Doctor
- Architect
- Solicitor
- Vet
- Barrister
- Chartered Surveyor
- Electrical Engineer
- Investment Banker (including sales, broker, equity analyst, investment manager) with a recognised financial institution
- Management Consultant (including Strategy Consultant) with a recognised consulting firm
- Mortgage Broker
Documents required to support application:
- All applicants must provide an employment contract, showing job title, start date, salary/benefits.
- Plus, at least one of the following:
- Certificate of degree/full qualification (including date)
- Completion of graduate scheme/formal training scheme (including date)
- Where it is a requirement to be registered to a professional body to practise, confirmation of registration must be provided.
- Please note that all Professional Income Boost cases will refer at DIP, to allow our Underwriters to carry out initial checks on eligibility and affordability.
| Profession | Professional Bodies |
| Actuary | The Institute and Faculty of Actuaries (IFoA) Society of Actuaries |
| Commercial Pilot | UK Civil Aviation Authority (CAA) Airline Transport Pilot Licence (ATPL) |
| Pharmacist | General Pharmaceutical Council (GPhC) |
| Accountant | Institute of Chartered Accountants England & Wales Institute of Chartered Accountants Scotland Chartered Institute of Management Accountants Association of Chartered Certified Accountants Chartered Institute of Public Finance and Accountancy Institute of Financial Accountants Association of Accounting Technicians (licensed MAAT and FMAAT only) Chartered Institute of Taxation |
| Dentist | General Dental Council (GDC) |
| Medical Doctor | General Medical Council |
| Architect | Architects Registration Board (ARB) |
| Solicitor | Law Society of Northern Ireland Law Society of England & Wales Law Society of Scotland |
| Vet | Royal College of Veterinary Surgeons (RCVS) |
| Barrister | The Bar Council |
| Chartered Surveyor | Royal Institute of Chartered Surveyors (RICS) |
Visit our Calculators page for our Professional Calculator