Professional
Mortgage advice for solicitors, associates and partners
A legal career can move quickly from employed salary to bonus, profit share and partnership income. That progression is positive, but a recent promotion or change to equity partner can make a straightforward application look more complicated. ERG Finance identifies lenders that understand legal careers and presents salary, bonus and partnership income in the right way.
We will review your income, plans and property before recommending the most suitable mortgage route. Your initial conversation is without obligation.
Who we can help
We advise trainees with a confirmed qualified role, newly qualified solicitors, associates, partners, in-house counsel, legal executives and law-firm owners. We can also assist where income includes discretionary bonus, overseas remuneration, carried interest or distributions alongside salary.
Why a standard mortgage calculator may not tell the full story
Automated calculators rarely capture the nuances of professional income. Common issues include:
- A newly qualified salary that has only recently started
- Bonus forming a material part of total remuneration
- Recent promotion to salaried or equity partner
- LLP profit allocations, drawings and tax reserves
- Income that changes from year to year
- A high-value purchase requiring a larger or interest-only loan
How ERG Finance approaches your mortgage
We establish whether the applicant is employed, a salaried member or genuinely self-employed for the relevant lender. We then evidence sustainable remuneration using contracts, payslips, P60s, partnership accounts, tax documents and remuneration statements as appropriate.
We will:
- understand how every element of your income is earned and evidenced
- assess affordability and criteria before recommending a lender
- compare rate, fee, flexibility and overall cost rather than focusing on rate alone
- prepare and manage the application through to completion
- remain available to review the mortgage as your career and plans develop
What we may ask you for
The exact documents depend on the lender and income structure, but may include payslips, P60s, employment or partnership contracts, tax calculations and tax-year overviews, business or partnership accounts, bank statements, evidence of bonus or allowances, and confirmation of a new role or return-to-work arrangements.
Frequently Asked Questions
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Some lenders recognise eligible newly qualified professionals and may consider a higher income multiple, subject to affordability, deposit, credit profile and product rules.
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Often. Lenders may average bonus over one or two years, use the latest amount, or apply a percentage. Guaranteed and discretionary bonuses can be treated differently.
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Approaches vary. A lender may use the applicant’s share of partnership profit, taxable income or an average across recent years. Current-year information can sometimes support a growing position.
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Potentially. Some lenders require a track record in the partnership, while others may consider prior earnings, the partnership’s performance and confirmation of the new remuneration structure.
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They may be, where there is an acceptable repayment strategy and the application meets the lender’s income, equity and loan-size requirements.
Speak to an advisor
Book a consultation
Check out our availability and book the date and time that works for you.
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Time zone: United Kingdom (Europe/London)
Your consultation
A 30-minute telephone call with one of our advisers. Tell us a little about your situation and we’ll match you with the right person.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. The availability and terms of any mortgage depend on individual circumstances, lender criteria, affordability, credit assessment and valuation. Professional status does not guarantee acceptance or enhanced borrowing.