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MORTGAGE MONDAY: Latest Mortgage Rates

Would you like to save money on your mortgage? View this week’s mortgages for doctors and dentists, to help you save money on your monthly mortgage payments.

This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

Mortgage holidays

We have been receiving many calls asking about mortgage holidays. If you are an existing mortgage client of Dental & Medical we are happy to guide you further for your individual case. If you need assistance, do contact one of the team and we can investigate with your lender. More information about the pros and cons of taking a mortgage holiday can be found here >

The base rate is currently just 0.1%

Rates are now 0.1%, the lowest rate ever. Some lenders are passing on the rate and other won’t be.

Check out our recent update with a list of lenders here >

A Mortgage Review, by a professional independent mortgage broker, will outline the most suitable overall deal for you, including the combination of low rate of interest and low fees.

As independent brokers, we have access to all mortgage products from all lenders. Our experience in the dental and medical sectors too, means we have built relationships with specialist lenders over the 30 years we have been in business, enabling us to provide a bespoke and personalised service to you.

2 yearFIXED - 60%40%1.19%Saving money by remortgaging.
2 yearTRACKER - 60%40%1.29%Tracks the Bank of England rate so fluctuates accordingly.
3 yearFIXED - 60%40%1.34% Saving money by remortgaging.
5 yearFIXED - 60%40%1.41%Saving money by remortgaging.
10 yearFIXED - 60%40%2.07%Long-term reassurance of low monthly payments.
2 yearFIXED (Offset) - 60%40%1.40%Saving money by remortgaging.
2 yearFIXED - 90%10%1.79%First-time buyers with a small deposit.
2 yearFIXED - 85%15%1.49%First-time buyers with a small deposit.
2 yearFIXED - Buy-to-Let - 75%25%1.59%Property investors with a moderate deposit.
Average lendersStandard Variable Rate4.09% (1 APR 20)Flexibility.

Rates are sourced from Trigold on 27 April 2020.

Mortgages for doctors and dentists

Whether you are looking to remortgage and save money on your current monthly mortgage payment, invest in a buy-to-let property or require finance for your first home, Dental & Medical Financial Services have access to the lowest rates on the market.

As independent mortgage brokers, we can help you decide which mortgage is most suitable for your situation.

It is also important to carefully consider the term of your mortgage to take into account your retirement plans too.

We will help you choose from:

  • A wide range of fixed rate mortgages
  • Tracker mortgages
  • Offset mortgages, which may suit you if you have savings
  • Low deposit options for junior doctors and newly qualified dentists buying their first home
  • Buy-to-let mortgages, even in a difficult market for landlords

5 things to consider when looking for a mortgage

  1. Low rates are important and tend to be what most homeowners base their decisions on.
  2. As well as finding low rates though, it is vital to find mortgage deals that offer low fees, so that the overall cost of your mortgage is as low as possible.
  3. Find a lender that has reasonable early repayment fees, so if life takes a different turn you will not be left footing a hefty bill.
  4. If you are remortgaging, check any early repayment charges on your existing deal too. Sometimes it can benefit you financially to pay these fees to be able to switch to a better rate.
  5. How is your credit score? This could have an impact on the amount you can borrow and the rate.
  6. Working with an independent mortgage broker means you have access to all products available on the market.

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