Professional mortgages are 'still a good deal'
(07 February 2008)

Professionals are well placed in the mortgage market despite the credit crunch, says an expert.

Scottish Widows said that the chances of getting a 100 per cent mortgage is now less and could cost more, but that the professionals mortgage market has been "very much less than anywhere else".

Richard Clark, head of product development and marketing for Scottish Widows, said that mortgage lenders would be willing to go further for professionals like doctors, dentists and lawyers.

"They are the people who generally, because of their earning potential later on in their career, lenders will go further for," he said.

Mr Clark said that these types of professionals will be more likely to get a 100 per cent mortgage and will be able to borrow about five times their salary.

The market for professionals has probably reached the worse level, but specialists in the professional mortgage market may emerge if the situation worsens.

Buying a home with a mortgage has become less affordable, according to the Financial Times.