Vernon Building Society has announced that it has introduced a new range of Professional mortgages aimed at young professional homebuyers.
The products are designed to let qualified professionals borrow based on their future earning potential, rather than being limited by their current salary. The range is open to a variety of roles, including doctors, solicitors, teachers, engineers, accountants, and other regulated or specialist professions, with a full eligibility list available on Vernon’s website.
The new range is available to employed and self-employed applicants across England and Wales, for both purchase and remortgage. Vernon will accept applicants aged 18–75, with properties valued from £125,000 up to a £1,000,000 loan.
The range includes four products:
Five‑year fixed at 4.59%, up to 80% LTV, £999 fee
Five‑year fixed at 4.74%, up to 85% LTV, £999 fee
Two‑year 3.01% discount at 4.59%, up to 80% LTV, £499 fee, allowing no early repayment charges on up to 25% overpayment
Two‑year 2.81% discount at 4.79%, up to 85% LTV, £499 fee, allowing no early repayment charges on up to 25% overpayment
Vernon’s updated lending policy removes any maximum loan‑to‑income (LTI) ratio. Underwriters assess affordability using guaranteed future income, such as confirmed pay-scale progression for doctors or trainees, or contractual pay rises for other professionals.
Part-and-part mortgages are available up to 85% LTV, with up to 70% of the loan on an interest‑only basis. This structure helps reduce monthly payments in the early years and can increase borrowing potential.
The Society will also consider self-employed applicants with just one year of accounts, borrowers still in probation, and gifted deposits. These features reflect Vernon’s flexible, case-by-case approach to underwriting more complex circumstances.
Brendan Crowshaw, head of mortgage and savings distribution at Vernon Building Society (pictured), said: “Affordability remains one of the biggest hurdles professional borrowers. Rising property prices often mean that even those with strong future earning potential – whether they are early in their careers or more established – struggle to access the homes they want today."
“This new mortgage range reflects our new lending policy and applies our common‑sense approach to underwriting. By eliminating the LTI cap and allowing affordability to be based on guaranteed income rises, we’re helping professionals borrow in line with their career trajectory rather than being limited by current earnings.”
