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© Henry Dannell
Yes. Some lenders rely on finalised tax calculations (SA302s), but others will accept finalised sole trader accounts from your accountant. This flexibility allows barristers to present a more accurate income picture and maximise borrowing potential.
Yes, although it’s not standard across all lenders. Some will consider projected income if you have a proven track record of growth and supporting evidence from chambers.
Yes. Some lenders will underwrite based on accounts rather than relying solely on tax returns, which can maximise borrowing potential, particularly if your accounts show a higher income.
Not necessarily. While many lenders prefer two years of accounts, some specialist lenders offer mortgages with just one year’s accounts, benefitting newer barristers.
The amount varies between lenders, as each has its own affordability model and assessment method. Income, outgoings, and financial commitments are key factors. Working with a mortgage adviser familiar with barristers’ needs can help secure better terms.
Yes. Some lenders may base their decision solely on your latest year’s accounts, especially if they show significant growth. Bespoke lenders often take a holistic view of your finances.
Typically, you’ll need:
High street lenders often use stringent assessments, but bespoke lenders understand fluctuations in barristers’ income. Providing a comprehensive income trajectory can mitigate credit risk concerns.
Not necessarily. The process differs due to income fluctuations, but lenders familiar with barristers’ circumstances are often more flexible in their policies.
Technically, none. Some lenders offer mortgages to barristers with little or no trading history, even during pupillage.
Yes, subject to meeting certain criteria. Some lenders require a minimum income or property equity. Interest-only mortgages can be useful for managing fluctuating income.
Lenders typically assess income based on your latest and previous tax calculations or accounts. They may consider childcare costs when calculating affordability. Holistic lenders can account for income reductions if you plan to return to work.
Offset mortgages reduce interest by offsetting savings against your mortgage balance, which is especially useful for barristers using tax funds to manage interest costs.
Yes. Some lenders offer mortgages based on pupillage awards, recognising future earning potential.
Yes. Lenders may include sporadic judicial work in their assessments if there’s evidence of income or a contract.
At Henry Dannell, we work closely with barristers at all stages of your career to ensure that lenders fully understand your unique income structure. We have exclusive pilot schemes with lenders specialising in professional mortgages who understand the nuances of barristers’ earnings, such as fluctuating income and aged debt. These tailored solutions can improve your mortgage options and help secure better terms. Our advisers are dedicated to providing bespoke guidance and giving you access to lenders who understand your profession’s unique financial profile.
Have more questions or want to explore your mortgage options? Visit our dedicated Barrister Portal. Book a personalised consultation with one of our expert advisers for tailored support. You can also explore our expert insights, make use of our mortgage calculators, and benefit from our 24/7 mortgage review service.
info@henrydannell.co.uk
0204 599 9444
www.henrydannell.co.uk
Yes. Some lenders rely on finalised tax calculations (SA302s), but others will accept finalised sole trader accounts from your accountant. This flexibility allows barristers to present a more accurate income picture and maximise borrowing potential.
Yes, although it’s not standard across all lenders. Some will consider projected income if you have a proven track record of growth and supporting evidence from chambers.
Yes. Some lenders will underwrite based on accounts rather than relying solely on tax returns, which can maximise borrowing potential, particularly if your accounts show a higher income.
Not necessarily. While many lenders prefer two years of accounts, some specialist lenders offer mortgages with just one year’s accounts, benefitting newer barristers.
The amount varies between lenders, as each has its own affordability model and assessment method. Income, outgoings, and financial commitments are key factors. Working with a mortgage adviser familiar with barristers’ needs can help secure better terms.
Yes. Some lenders may base their decision solely on your latest year’s accounts, especially if they show significant growth. Bespoke lenders often take a holistic view of your finances.
Typically, you’ll need:
High street lenders often use stringent assessments, but bespoke lenders understand fluctuations in barristers’ income. Providing a comprehensive income trajectory can mitigate credit risk concerns.
Not necessarily. The process differs due to income fluctuations, but lenders familiar with barristers’ circumstances are often more flexible in their policies.
Technically, none. Some lenders offer mortgages to barristers with little or no trading history, even during pupillage.
Yes, subject to meeting certain criteria. Some lenders require a minimum income or property equity. Interest-only mortgages can be useful for managing fluctuating income.
Lenders typically assess income based on your latest and previous tax calculations or accounts. They may consider childcare costs when calculating affordability. Holistic lenders can account for income reductions if you plan to return to work.
Offset mortgages reduce interest by offsetting savings against your mortgage balance, which is especially useful for barristers using tax funds to manage interest costs.
Yes. Some lenders offer mortgages based on pupillage awards, recognising future earning potential.
Yes. Lenders may include sporadic judicial work in their assessments if there’s evidence of income or a contract.
At Henry Dannell, we work closely with barristers at all stages of your career to ensure that lenders fully understand your unique income structure. We have exclusive pilot schemes with lenders specialising in professional mortgages who understand the nuances of barristers’ earnings, such as fluctuating income and aged debt. These tailored solutions can improve your mortgage options and help secure better terms. Our advisers are dedicated to providing bespoke guidance and giving you access to lenders who understand your profession’s unique financial profile.
Have more questions or want to explore your mortgage options? Visit our dedicated Barrister Portal. Book a personalised consultation with one of our expert advisers for tailored support. You can also explore our expert insights, make use of our mortgage calculators, and benefit from our 24/7 mortgage review service.
info@henrydannell.co.uk
0204 599 9444
www.henrydannell.co.uk
The Bar Council faces both opportunities and challenges on our key areas this year
Exclusive Q&A with Henry Dannell
Casey Randall of AlphaBiolabs discusses the benefits of Non-invasive Prenatal Paternity testing for the timely resolution of family disputes
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Rachel Davenport, Co-founder and Director at AlphaBiolabs, discusses the role that drug, alcohol and DNA testing can play in non-court dispute resolution (NCDR)
What's it like being a legal trainee at the Crown Prosecution Service? Amy describes what drew her to the role, the skills required and a typical day in the life
Barbara Mills KC wants to raise the profile of the family Bar. She also wants to improve wellbeing and enhance equality, diversity and inclusion in the profession. She talks to Joshua Rozenberg KC (hon) about her plans for the year ahead
Are Birmingham’s Intensive Supervision Courts successfully turning women offenders’ lives around? Chloe Ashley talks to District Judge Michelle Smith
Professor Dominic Regan and Seán Jones KC identify good value bottles across the price spectrum – from festive fizz to reliable reds
Governments who play fast and loose with the law get into real trouble, says the new Attorney General. The Rt Hon Lord Hermer KC talks to Anthony Inglese CB about what drew this boy from Cardiff to the Bar, bringing the barrister ethos to the front bench, and how he will be measuring success
