Mortgages for Lawyers, Solicitors & Barristers
As a lawyer, solicitor or barrister, you’re likely juggling a demanding schedule, sometimes a more complex income structure, and long-term financial goals.
Whether you’re employed at a firm, self-employed in chambers, or just starting your legal career, getting a mortgage may feel complicated.
The good news? Your profession is highly regarded by mortgage lenders. With the right advice, you could benefit from flexible lending criteria, and sometimes even increased borrowing power.
To unlock these advantages, it helps to work with a broker with experience in complex cases.
We’re here to guide you through the mortgage process, securing a solution that fits your circumstances.
Are There Specialist Mortgages for Lawyers?
Technically, there aren’t specific mortgage products only available to lawyers, but there are lenders who offer preferential treatment to professionals such as lawyers, doctors, accountants etc.
Many of these lenders, often outside of the high street, consider lawyers to be low-risk borrowers with strong earning potential. This means you might qualify for:
- Higher income multiples
- Lower deposit requirements
- Reduced fees or cashback offers
- More flexible underwriting
These benefits can change on a regular basis as lenders change their products. That’s why personalised mortgage advice is so valuable if you’re in the legal profession.
Find out Your Options
How Your Legal Career Impacts Your Mortgage Options
Lenders can view legal professionals favourably due to job security, strong career progression and consistent earning potential. But how your income is structured can influence how a lender assesses your affordability.
If You’re Employed at a Law Firm
This is the simplest scenario from a lender’s perspective. You’ll typically just need to provide:
- Three months’ payslips
- P60 or employment contract
- Proof of deposit
- Bank statements
Some lenders may even consider projected earnings if you’re recently qualified and have a clear path to increased income. This can help you borrow more today based on your expected salary in the near future.
If You’re a Trainee Solicitor or Junior Barrister
Even if you’re early in your career, you may still be able to access attractive mortgage options. Some lenders will base affordability on your current income, while others may take your future earning potential into account, particularly if you’ve secured a training contract or post-qualification offer.
In some cases, a family member may be able to support your application with a guarantor or joint borrower sole proprietor mortgage structure.
At Kerr & Watson, we’ll explore all your options and help you make the right call based on your goals and where you are in your career.
If You’re Self-Employed or in Chambers
Self-employed barristers or solicitors often face more scrutiny from lenders, even when their income is strong. Typically, you’ll need to provide:
- Two to three years of accounts or SA302s
- Tax year overviews
- Business bank statements (in some cases)
Some lenders may only consider income you’ve drawn from the business (such as dividends or salary), while others will use your share of net profits. Knowing which lenders offer the most flexibility for your income structure can make a significant difference to your borrowing power.
If you’ve recently gone self-employed, there are a few lenders who may still help with only one year of accounts and a track record in the industry.
This is something we deal with at Kerr & Watson, and we’ll let you know what’s achievable for your situation.
Can You Borrow More as a Lawyer?
In many cases, yes. Your profession gives you access to lenders who are willing to offer enhanced income multiples. While most borrowers are capped at 4.5 – 5 times their income, you might be eligible for up to 5.5 or even 6 times salary, depending on your credit history, deposit and overall affordability.
This is particularly useful if you’re buying in an area where property prices are high, or if you want to borrow more now with the confidence of increasing income down the line.
What Types of Mortgages Are Available to Professionals?
You can usually access all the usual mortgage types, including:
- Fixed-rate mortgages for repayment certainty
- Tracker or discounted variable mortgages
- Offset mortgages, useful for high-savers
- Interest-only options (with a suitable repayment vehicle)
There’s no one-size-fits-all answer. Your mortgage should reflect your financial goals, income structure and future plans. We’ll help you make sense of it all and check you are meeting criteria for your preferred route.
Should You Use a Broker Who Understands Mortgages for Lawyers?
Absolutely. Many of the deals for professionals aren’t advertised on the high street. In fact, they may only be accessible through brokers with relationships at specialist lenders, however, we will consider both high street lenders and specialist lenders.
At Kerr & Watson, we take the time to understand your unique financial picture. Whether you’re salaried, self-employed, starting out or at the top of your field, we’ll look for a mortgage that works for you.
Working with us means:
- You save time on admin and paperwork
- You get access to lenders who understand your income
- You avoid wasting time with unsuitable lenders
- You get clear, honest advice with no pressure
Conclusion
As a lawyer, solicitor or barrister, you’re in a strong position when it comes to applying for a mortgage.
Your profession can open doors to favourable terms, higher borrowing limits, and greater flexibility.
But finding the right lender can still be overwhelming, especially if your income is complex or non-traditional.
We provide tailored mortgage advice that’s built around your situation.
Whether you’re buying your first home, remortgaging, or investing in property, speak to Kerr & Watson today.
