Mortgages for NHS Staff


NHS staff mortgages

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Mortgages for NHS Staff

Are you an NHS worker looking for a mortgage? Talk to our expert mortgage broker for fee free advice. In the UK the NHS hires around 1.5 million people, it is one of the largest employers throughout Britain. Whether you’re a nurse, doctor, surgeon, midwife, health care assistant it is very important that when you get the spare time to consider purchasing a property, you have a broker you can trust to search an extensive panel of lenders, making sure you are getting the right deal for your circumstances.

If you are looking for a mortgage designed for NHS employees, you may notice that there are not specific products called an NHS mortgages. Some NHS workers may be counted as key workers for the purposes of housing schemes, particularly if they earn an income below a certain threshold but generally the products available will be the generic products available to the open market.

So why use a broker to find your NHS Mortgage?

At Alexander Southwell Mortgages we are familiar with the different types of pay structures throughout the NHS, the fact that there are lots of different types of additional income such as shift allowance, overtime, training payments in many of these roles we know how to proposition this to our lending partners to maximize the borrowing potential for our clients.

Carers might also take on a similar ‘self-employed’ approach with the work underpinned by a one or a series of ‘zero’ hour contracts. Nurses could work for an agency ‘bank’ nurses. This mixture of income streams and structures can be difficult to decipher and can in some cases give mortgage lenders concern and potential inability to lend, this is where our expertise will help and provide you with the information you need to help secure a mortgage.

It is important that as much research as possible is done based on your circumstances to ensure you are choosing the right option for you. Whether that is a buy-to-let mortgage, joint mortgage or the help to buy scheme, joint mortgage or the shared ownership scheme, we will research competitive products.

We understand that although you may want to review your mortgage outgoings, time and costs are prohibitive to this. That is why we are providing fee-free mortgage advice to make the process as easy as possible to access competitive offers.

Who are mortgages for NHS staff aimed at?

In order to apply for an NHS mortgage, you must be employed on a permanent basis as clinical staff. You must also be employed by one of the following:

  • GP Surgeries
  • NHS Direct
  • Ambulance Trust
  • NHS Dental Practices
  • National Blood Transfusion Services
  • Mental Healthcare And Social Care Trusts
  • Health Protection Agency
  • Other NHS Trusts

Other Mortgage schemes that may be beneficial to NHS staff

Help to Buy

The Help to Buy scheme is aimed at helping first time buyers get onto the property ladder. This scheme helps you to buy a new-build home with just 5% deposit.

It’s facilitated by a 20% government equity loan (40% in Greater London), which tops up your deposit to a total of 25%. This loan is interest-free for the first five years. This provides those on a lower income access to a wider variety of homes, given that they only require a mortgage loan of 75% of the property value.

PLEASE NOTE: The help to buy scheme is ending on 31/10/2022

Shared Ownership

The shared ownership scheme affords you the opportunity to purchase properties that you wouldn’t otherwise afford, by buying a share of between 25% and 75% instead of the entire property.

Buying a smaller percentage of the home has a lower deposit requirement and lower repayments on your mortgage, given that you are borrowing less. You should bear in mind, however,  that you’ll also need to make rental payments towards the share of the property that you don’t own.

Right to Buy

Local authority and housing association tenants are sometimes able to buy their rented home at a significant discount. If you have the chance to take advantage of this scheme, your monthly payments will be far more affordable, as will your deposit.

Our mortgage services don’t stop there

Alexander Southwell Mortgages understands that the mortgage application is just one aspect of buying or remortgaging a property.

We can also advise and arrange Life Assurance, Critical Illness or Income Protection, again offering the right terms.

Alexander Southwell Mortgages for NHS Staff

We know that the long hours and strange shift patterns can make finding free time difficult to discuss your mortgage needs, so we can accommodate around you. We are happy to help whichever way suits you best. whether that be online by email, telephone appointments or traditional face to face appointments, including late evening appointments to work around your busy work schedule.

If you work in the NHS and are thinking about applying for a mortgage, call us for a no-obligation chat on 03300 432428.

A mortgage is a loan secured against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

Jamie Alexander Mortgage Broker & Advisor
Jamie Alexander
Jamie is an experienced Mortgage Advisor with a demonstrated history of working in the financial services industry. He’s skilled in Financial Services, Negotiation, Insurance, Residential Homes, and Residential Mortgages. For mortgage advice get in touch with Jamie via the website contact form.
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