Swansea Building Society has created a mortgage product specifically designed to offer medical professionals enhanced terms and a better deal.
The medical professional mortgage product is designed specifically for cases where the applicant, or one of the applicants in the case of a joint mortgage, is a medical doctor, surgeon or dentist.
This product allows customers to borrow a higher amount against their income compared with standard mortgage products, subject to meeting affordability rules.
Sole customers will be able to borrow up to 5.5 times their sole income whilst joint customers will be able to borrow up to five times their joint income.
The new product was made available to customers from 1 October.
Alun Williams, chief executive of Swansea Building Society, said: “We are constantly reviewing what we do based on feedback from customers, brokers and our wider analysis of the mortgage landscape to ensure we are competitive where relevant in the current market.
“In this case, we wanted to develop a product that would reflect the current and future earnings potential of some of our clients who work in the medical profession.
“We are delighted to be able to roll this product out; we have already had very good feedback from our network of brokers.”