Law Firm Partners

Mortgages for law firm partners

For anyone that is a partner in a Limited Liability Partnership (LLP) law firm it can be quite tricky to secure mortgage financing. As you are not an employee, your financial circumstances such as your income and tax situation may prove confusing to high-street mortgage lenders. This is where Active can help.

 We understand the self-employed mortgage market and specialise in helping law firm partners to secure the best mortgage and refinancing deals on the market.

Hassle-free mortgage advice for law firm partners

Many mortgage lenders approach law firm partners in a similar way that self-employed people in other professions. This means they may typically demand to see around 2 years’ worth of business accounts.

This could lead to issues trying to prove your income if you have only recently been made partner.

Fortunately, our specialist advisers understand the market for law firm partner mortgages and which lenders to approach that will give you the greatest chance of success.

Why not speak to one of our specialist advisers to find out how we can help you?

How mortgages are arranged for law firm partners

The specialist mortgage lenders that are more likely to provide an offer will usually assess mortgages for law firm partners on a case by case basis, and may take into account factors such as:

  • The amount, and value of your shares in the law firm
  • Historic performance of the law firm
  • Your average income over a set period of time
  • Your projected income as a partner

Maximising the chances of getting your mortgage application accepted

What you need to prepare to make your mortgage application depends on your circumstances. Your initial consultation with Active will ascertain those circumstances and what they mean for your mortgage application.

For any new mortgage application you are going to need to show proof of earnings, either as an individual or through your business accounts. Gather as much of this information as you can, particularly as someone that receives varying income, bonuses and shares.

A key area which affects all mortgage applicants is credit history. If your credit rating is not as strong or healthy as it could be, spend time doing everything you can to improve this before applying for a mortgage. This is an important indicator to mortgage providers that you are a good investment for them. The higher your credit the better rate and deal you are likely to receive.

How Active mortgage advisers help law firm partners

Your mortgage advisers at Active are here to assist you in finding the property of your dreams and look forward to helping law firm partners like you make it happen. Arranging a consultation is quick and easy. Simply fill out our contact form and a member of the law firm partner mortgage team will be in touch.

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