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Mortgages for Optometrists

Written by Simon Baker BSc (Hons)  |  Reviewed by The Complete Mortgage Shop, FCA regulated (FRN 728880)  |  Last updated 16 June 2026

Optometrists are regulated by the General Optical Council (GOC) and work across three broad employment models: employed by a high street or independent practice, self-employed as a locum, or as a franchise partner holding equity in a Specsavers or similar joint venture. Each model creates a different income picture, and choosing the right mortgage lender depends on understanding which one applies.

Pre-Registration and Newly Qualified Optometrists

Optometry graduates complete a one-year pre-registration period under supervision before taking the GOC registration assessment. Pre-registration optometrists earn a training salary rather than a qualified optometrist’s rate. On GOC registration, employed optometrists typically earn £30,000–£45,000 depending on location and employer. Some lenders will lend to newly registered optometrists on their qualifying salary, accepting GOC registration as the professional credential.

Employed Optometrists

An optometrist employed by a high street chain — Boots Opticians, Vision Express, Optical Express — or an independent practice receives a PAYE salary and is assessed in the same way as any employed borrower. NHS optical contract income, where relevant, may supplement the employed salary and can usually be evidenced through payslips or NHS England payment statements.

Locum Optometrists

A self-employed locum optometrist earns session fees negotiated directly with practices or through a locum agency. NHS General Ophthalmic Service (GOS) sight test fees are set nationally (£25.70 per NHS sight test in 2025/26 in England, higher in Wales and Scotland), with additional dispensing income where applicable. Locum day rates in the private market typically range from £250–£450 per day depending on location and demand.

Two years of SA302 returns evidencing locum income is the standard requirement. Some lenders will accept one year with a strong prior employment record. An accountant’s reference confirming income level and forward bookings strengthens the application.

Specsavers Joint Venture Partners

Specsavers operates a joint venture model: optometrists invest in and co-own their store alongside Specsavers corporate, becoming directors of the joint venture company. This is a director income structure: the partner draws a salary and dividends from the joint venture company, assessed in the same way as any company director.

The franchise agreement adds a layer of complexity — the franchise relationship and terms need to be understood by the lender. Some lenders are unfamiliar with the Specsavers JV model and may require additional explanation of how the business income is structured. A broker who has placed applications for Specsavers JV partners will know which lenders are comfortable with this model.

Mixed NHS and Private Income

Many optometrists earn a mixture of NHS GOS income (sight tests funded by NHS England) and private income (private sight tests, contact lens fitting, specialist clinics). Most lenders will include both income streams if properly evidenced, though some discount NHS contract income or treat it differently to private practice income. A broker can identify lenders who take the most comprehensive view of mixed income.

Frequently Asked Questions

How is a Specsavers joint venture partner’s income assessed for a mortgage?

Specsavers joint venture partners hold a director stake in their practice and draw income as salary plus dividends. Most lenders treat this as company director income, requiring two years of accounts and SA302 returns. Specialist lenders who understand the Specsavers model can assess the underlying NHS optical contract income that supports the practice.

Can a locum optometrist get a mortgage?

Yes. Locum optometrists working on a self-employed basis or through a regular agency can get a mortgage. Lenders typically average the last 12 months of locum income using bank statements and SA302 returns. GOC registration provides evidence of professional qualification and income sustainability.

How is combined NHS and private optical income assessed?

NHS General Ophthalmic Services (GOS) income provides a reliable, government-funded baseline. Private fee income is additional. A specialist lender will aggregate both income streams across SA302 returns. The combination of GOS sessions with private practice demonstrates a diversified, sustainable income model.

Getting the Right Mortgage as an Optometrist

For a closely related profession with similar NHS/private and locum income patterns, see our pharmacist mortgage guide. Optometrists who have become Specsavers JV partners should also read our director mortgage page for detail on how salary and dividends are assessed.

To speak to a qualified adviser, please submit an online enquiry or call 0800 310 1340.

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