NHS Mortgages

We are people, just like you

Finding a mortgage right for you can be hard no matter what job you have. However, some mortgage lenders offer “NHS mortgages”, making it slightly easier for NHS staff to get the right mortgage for them.

If you currently work within the NHS, carry on reading this guide to see how a professional mortgage could benefit you.

What is an NHS mortgage?

Whilst there aren’t any specific mortgages for NHS staff, there are mortgage brokers who will be able to provide you with a tailored mortgage to suit your specific needs as an NHS staff member. 

Many NHS staff find that their pay is complicated, and there are different aspects of your pay which some lenders may be interested in, and others not so much.

You may have heard the term NHS mortgage thrown around, as lenders were previously able to offer NHS employees discounts. However, this is no longer available.

Can you get an NHS discount on a mortgage?

NHS staff may be able to gain from specialist mortgage products that aren’t available to non-NHS mortgage applicants. This may come in the form of a professional mortgage or even key worker mortgage schemes. 

Usually, NHS mortgages don’t offer much in terms of discount. When we talk about NHS mortgages, it refers to the way in which lenders offer specialist criterias, rather than any form of discount.

Do NHS staff mortgages have any restrictions?

Yes, there are a few restrictions to an NHS mortgage. 

Your position within the NHS will affect your eligibility to get a specialist mortgage. All clinical staff are considered for any type of NHS mortgage scheme that a lender may run.

However, if you are considered as medical staff, such as a dentist, doctor, or surgeon, then you won't be able to apply. 

You won’t be able to apply either if you are a porter, or you work in admin or a domestic position.

If you’d like to know more about working with a mortgage broker, read our article below where we explain what your advisor may ask you 

What is the NHS help to buy scheme?

The NHS help to buy scheme is the same as any other regular help to buy scheme, but tailored suit the needs of NHS staff.

The help to buy scheme is a loan from the government that is put towards the cost of buying a newly built home. Help to buy helps new home owners onto the property ladder, and if you’re eligible for an equity loan, you can borrow up to 20% of the market value of a new home.

What type of mortgages are available to NHS staff?

Fixed rate mortgages for NHS staff

Fixed rate mortgages are the most common types of mortgages. They offer a fixed rate of interest for a set amount of time, meaning the monthly payments remain the same for that set period of time. 

This is a favourable option for many NHS staff as it means they can plan their outgoings. The main drawback to this type of mortgage is that there are early repayment charges associated with them. 

Variable rate NHS mortgage

This covers lots of types of mortgages for NHS staff, and they all generally have the same basic key points. Your monthly payments may go up or down depending on the lender's standard variable rate, or the Bank of England base rate.

This type of mortgage does not have any early repayment charges, which makes them much more flexible.

How to get mortgages for NHS professionals

To see if you’re eligible for an NHS mortgage, speak to our friendly and professional team

Our specialist advisors will be able to guide you on your best options, and explain everything you need to know about NHS mortgages, including who counts as a NHS worker, what type of mortgages are available to you and how to apply. 

How do I know if I am eligible for an NHS mortgage discount?

In order to apply for an NHS mortgage, you must fit into the clinical staff criteria, and be employed on a permanent contract. Eligible staff must fit into the following criteria:

  • GP surgeries

  • NHS Direct

  • Ambulance trust 

  • Primary care trusts 

  • National Blood transfusion services

  • Health protection agency 

  • Mental healthcare and social care trusts 

How much can I borrow on a mortgage for NHS staff?

As with any mortgage application, you need to be able to prove that you can afford to pay back the loan for your NHS mortgage. 

Lenders will undertake an affordability assessment, which includes aspects such as your income, your monthly outgoings, your age and what NHS pay band you are in. 

To summarise, how much you can borrow is not so black and white as it may seem, and is something that will need to be discussed with your mortgage lender. 

Mortgages for NHS Staff with Go2Mortgage

Here at Go2Mortgage, we know it’s important to have complete confidence in your mortgage lender. We can guarantee that we will take the time to understand your individual needs in order to get the best mortgage possible for you. 

Get in touch with us today to see how we can help you.