Professional mortgages 'offer security to certain buyers'

Young professionals would benefit from the availability of tailored mortgages that are designed specifically for their needs, it has been claimed.

According to Birmingham Midshires, packages such as its Mortgage Plus product could help professional workers buy their first home by offering specific features along with the security of having all their borrowing in one place.

Claire Mortimer, senior press officer for the lender, said: "All specialist products are designed to meet the needs of a niche set of borrowers.

"In the case of Mortgage Plus, it can allow young professionals to get on to the ladder with a product tailored to their situation. It also gives them the security of managing all of their borrowing in one place at one rate."

However, Ms Mortimer went on to point out that there are "very stringent" criteria in place for products such as Mortgage Plus.

Customers will need to have excellent credit histories to be accepted for such packages and also prove affordability.

Birmingham Midshires expects to decline one out of every two applications it receives for its Mortgage Plus offer.

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