NHS GP, Private or Locum Doctor? Getting a Mortgage Shouldn’t Be This Complicated

If you’re a GP or locum doctor trying to get a mortgage, you’ve probably already discovered that lenders don’t always see you the way they should. Despite your strong earnings, many will undervalue your income, refuse to count private patient fees, or treat multiple contracts as unstable. Some will even penalise you for running your practice efficiently through a limited company ignoring your retained profits altogether.

It’s not just the refusal itself that stings, it’s the ripple effect it has. A decline can put your dream home out of reach, delay your plans for months, and create unnecessary stress in an already busy life. It can feel unfair when you’ve built a career serving patients, only to be told by a bank’s algorithm that your income is ‘too complex’ to approve.

Even worse, switching from NHS salaried work to higher-earning locum or private practice can backfire. Many banks average your income over the last two or three years, dragging you down with older, lower figures. That means the harder you’ve worked to grow your income, the less it might count in the lender’s eyes. Add to that the frustration of extra clinics, weekend shifts, or rental income being ignored, and you’ve got a recipe for disappointment.

Then there’s the paperwork grind. Endless requests for tax returns, contracts, bank statements, often sent one at a time, dragging the process out for weeks. Each delay puts you at risk of losing the property you’ve set your heart on. For a GP already juggling patient lists, admin deadlines, and personal life, the mortgage process can quickly feel like another full-time job.

Fortunately, there’s a better way.

At Wallace Home Finance, we specialise in helping GPs and locum doctors secure the mortgages they actually qualify for, without jumping through unnecessary hoops. We can get you assessed on your company’s net profits, not just your salary or dividends, so you won’t have to draw extra dividends (and pay more tax) just to prove you can afford your dream home. We have access to over 100 lenders, including those who understand complex medical income giving you the best chance of both acceptance and a lower rate.

We’ll source the right deal, prepare your application, and handle all the paperwork. You’ll get personal service, not a call centre, with meetings over Zoom and Hyper- Communication. We keep you informed at every step and we’re available evenings and weekends.

Opportunity

Let us find you a lender who sees the whole picture. Fill in our short online form now and we’ll call you to discuss your options and get you closer to the mortgage you deserve.