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Strive is a specialist mortgage brokerage that specialises in equity partner mortgages for law and accountancy firms.
Certain mortgage lenders are more equipped to deal with the unique employment structure of equity partners, especially when it comes to complex income structures and variable earnings.
We have over 20 years of experience arranging mortgages for equity partners and work closely with lenders who understand law and equity partners, including those offering interest only mortgages popular among high earners.
We’d love to hear from you – get started online or call us on 0330 043 1121 today to speak with one of our expert advisers.
Challenges when securing a mortgage as an equity partner
While there is no doubt that being an equity partner in a law or accountancy firm is a respectable and potentially lucrative career, it can present challenges when securing a mortgage as an equity partner, especially if you have recently been promoted to partner.
Most mortgage lenders treat equity partners as self employed and require 2 or 3 years of income history or tax returns. Obtaining a mortgage can take a while, particularly if your current earnings do not reflect your new income.
Income for equity partners is often comprised predominantly of profit share, annual bonuses, or carried interest, rather than a standard salary. These complex income structures can make your mortgage application more difficult with high street lenders or building societies.
Providing company accounts to evidence income can be challenging, especially if you have small ownership stakes. Most lenders are not equipped to interpret the nuances of borrower’s income in these cases.
That’s why specialist lenders and private banks who understand law and equity partners’ income arrangements are often required.
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How much can I borrow as a Limited Liability Partner?
The amount you can borrow as a limited liability partner will vary significantly depending on the lender. Some lenders base their decisions on 2 or 3 years of profit share, while others focus on the latest tax year. Lenders interpret income in different ways, which can be key if your equity partners income has increased recently or you’re a new law partner with a significant pay rise.
Some lenders offer loans at 4.5 to 5 times your income, while others may consider up to 5.5 times your income. Higher income multiples are typically reserved for high net worth clients or those with incomes above £100,000.
Choosing the right lender can result in tens of thousands more in borrowing. A larger deposit and stronger cash flow can help unlock higher multiples.
How quickly after making partner can I use my new income for a mortgage?
Most mortgage lenders require 2 years of income history after becoming an equity partner. However, many lenders will consider only 1 year of tax returns, and at Strive, we have access to specialist lenders and private banks who may lend before you complete your first year as a partner.
These lenders may consider your income straight from your time as a salaried partner, along with new partners’ projected earnings.
Large mortgages for equity firm partners
It’s not uncommon for law partners and accountancy firm partners to benefit from substantial earnings and want to leverage that for a large mortgage. Strive works with mortgage lenders who can offer up to 5.5 times income, taking into account profit share, annual bonuses, and equity partners income.
Most high street banks and high street lenders offer mortgages up to £3 to £5 million, with some willing to lend even more.
Typically, mortgages above £1 million require a 15% deposit, but some specialist mortgage brokers can access lenders who offer large mortgage products with smaller deposits.
In such cases, interest only mortgages are popular, particularly among borrowers with significant assets or cash flow.
Evidencing income for mortgages for Equity Firm Partners
Evidencing income for mortgages for law firm partners depends on the lender, the length of time you’ve been a partner, and how your income is structured.
Many mortgage lenders require 2 years of SA302s, tax returns, overviews, and company accounts. Others may accept just 1 year of documentation.
Specialist lenders may also accept a signed letter from the firm’s financial director confirming your income, especially if you have limited access to the full company accounts.
This can be particularly useful for equity partners with smaller ownership stakes or those in the same firm for a long time but newly promoted.
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How much deposit do I need?
You can get a mortgage with as little as 5%, but a larger deposit opens more options. Mortgages over £500,000 or for first time buyers in high-value markets typically require a bigger deposit.
Many lenders offer better mortgage terms and interest rates if you can put down more upfront. A larger deposit also improves your mortgage application strength.
How to get a better mortgage as an Equity Partner
Securing a mortgage as an equity partner can be smoother with the right lender and preparation. Working with a specialist mortgage broker like Strive ensures your income is assessed correctly.
We work with mortgage lenders and private banks that cater to law or accountancy firm professionals and those with complex income structures.
Be ready to evidence income with SA302s, confirmation from your financial director, and details of your annual bonuses, tax returns, and company accounts.
Having a strong credit score, a larger deposit, and a realistic mortgage term can help you access better mortgage products and interest rates.
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Best mortgage providers for Equity Partners
The best mortgage provider for equity firm partners depends on your individual circumstances — including how long you’ve been a partner and how your income is structured. Some mainstream lenders, like Halifax, are known to consider applications with just one year’s worth of partnership accounts, making them a strong option for newer equity partners.
Others, such as Virgin Money, may accept a letter from your firm’s finance director confirming your share of projected income, especially if you don’t yet have a full set of accounts. These flexible criteria can be particularly helpful during the transition from salaried employee to profit-sharing partner.
At Strive, we work closely with lenders who understand the complexities of partnership income, helping you access tailored solutions based on your role, firm, and financial track record.
Why are interest-only mortgages popular for Law and Equity Partners?
Interest-only mortgages are a popular option for new law and equity partners due to their repayment flexibility. You only pay the interest each month, which keeps monthly outgoings lower — ideal during the early years of partnership when income is rising but cash flow may be tight.
For example, if you’ve just made partner and received a significant pay rise, an interest-only deal allows you to maximise your borrowing power without committing to full repayments straight away. This can help you secure a long-term home now, while giving you time to build wealth or wait for bonus payments.
At Strive, we can source high loan-to-income interest-only mortgages — often with just a 1% capital repayment — and help you refinance to a repayment deal once your income track record is stronger.
Speak with an Expert in Equity Partner Mortgages
Strive is a specialist mortgage broker for equity partners in law and accountancy firms.
We have over 20 years of experience arranging mortgages for equity partners and work closely with lenders who understand law and equity partners, including those offering interest only mortgages popular among high earners.
We’d love to hear from you – get started online or call us on 0330 043 1121 today to speak with one of our expert advisers.
Frequently Asked Questions (FAQs)
Yes, it’s possible to get a mortgage for new law partners or accountancy firm partners who have recently been promoted. Specialist lenders who understand equity partner speak will often consider previous income, projected earnings, and even offer only mortgage products for cash flow flexibility.
Yes, interest only mortgages are popular among equity partners, particularly those with high net worth or fluctuating cash flow. Many lenders, including private banks and specialist mortgage brokers, offer interest only options to help reduce monthly payments while maintaining long-term flexibility.
Most mortgage lenders will want to see 2 years of tax returns, SA302s, company accounts, and possibly a signed letter from your financial director. For new partners or those with smaller ownership stakes, some lenders accept projected income and confirmation of future earnings.
Yes, many lenders offer 5.5 or even 6 x income for private equity partners, especially to those with a higher earnings or a track record in this line of work.
Yes, many lenders offer mortgages to newly appointed law firm partners. Even if you’ve only recently transitioned from salaried to self-employed or profit-sharing status, specialist lenders understand the partnership model and may use your projected earnings or firm accounts to assess affordability.
Yes, if you’ve had a significant pay rise or recently become a new law partner, some lenders will use your latest income figures or future projections, even if your income history is shorter. Choosing the right lender is key to making the most of your new income.
Contact us today, and we’ll work hard on your behalf to find you a competitive mortgage.
For more information on mortgages for contractors, please contact a member of the Strive team, by emailing [email protected] or call us on 01273 002697.
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