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NHS Mortgages – are you eligible?

As an NHS worker you could be entitled to special mortgage deals from lenders – as a thank you for the important work you do. If you are planning ahead to buy a home, mortgages for NHS workers could help you save money.

Who is eligible for an NHS Mortgage?

An NHS mortgage doesn’t really exist – the name really describes a standard mortgage where lenders offer discounts or preferential rates to health service employees.

If you can confirm that you work for the NHS, using payslips or ID cards for example, you should be eligible for these special offers. They are usually open to anyone in the NHS and not just clinical staff.

Am I eligible for the NHS Key Worker mortgage scheme?

The key worker mortgage scheme was a government initiative to support public sector workers like NHS staff, teachers and police officers to get on the property ladder. It’s not possible to apply, unfortunately, as the scheme is no longer operating. 

Are there any restrictions on NHS mortgages?

How mortgages for NHS staff work will vary by provider to provider. Some lenders might let you buy a property with a lower deposit than other customers, while others might offer cheaper interest rates. 

You might also find that you can gain discounted or zero fees on a mortgage deal. The amount you can borrow will still depend on your salary, savings and deposit. 

It’s not always easy to compare the various deals and offers that apply to you, so it helps to seek mortgage advice. Brokers like The Mortgage Centre will do the comparisons for you and help you find the best offers as an NHS employee.

What type of NHS mortgages are available?

Special deals are available on all kinds of mortgage. Whether you’re a First Time Buyer, moving home or looking to remortgage, you should find suitable offers. Some lenders also provide NHS discounts on Buy to Let Mortgages.

It’s important to decide what type of mortgage you want to look for. Would you prefer a fixed rate deal or are you happy with a variable rate? Will you need to borrow on interest only or is a repayment mortgage suitable?

How much can NHS staff borrow?

Generally lenders offer around four times your salary, although this can sometimes extend to five times. As with any financial product, make sure that you can easily afford the repayments on your mortgage, because falling behind could put your home at risk.

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We’re able to tap into our local knowledge to guide you through your house purchase in your chosen area.

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Can NHS staff apply for government homebuying schemes?

Yes, most people can make use of government initiatives.They are targeted at consumers based across England and Wales and should make it easier to buy a home. They include:

Help To Buy – Equity Loan

The Equity Loan scheme makes it possible to buy a new build property with just 5% deposit, with a government loan of up to a further 20%. You take out a mortgage for the rest of the value, and the government loan is interest-free for five years. 

Help To Buy – Shared Ownership 

The Shared Ownership scheme allows you to buy a share of a home and pay rent on the remaining share. You can decide how large your initial share is, between 25% and 75%, and then increase this over time.

Right To Buy 

If you live in a property owned by the council or a Housing Association based in the UK, the Right to Buy scheme could help you buy it with a discount of up to £84,200 – or £122,300 in London. 

NewBuy 

NewBuy is a government-backed scheme offering 95% mortgages on certain new build properties. You will need to research eligible homes in your area.

Could a Mortgage Broker help me find an NHS mortgage?

Brokers like The Mortgage Centre are here to make mortgages easier. We start by getting to know you, your personal situation and home-buying goals, and will then seek out mortgages to match. We’ll explore NHS discounts on mortgages and other offers to help you buy a home.

We’ll also look after the application process for you. You can relax and let us take the strain, as The Mortgage Centre and our website is subject to the UK regulatory regime. We are authorised and regulated by the Financial Conduct Authority. Importantly we are qualified to offer you this advice and we put you at the centre of the suggestions we make as we are not tied to one product or lender. 

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Client Reviews

stantona
stantona
stantona

I highly recommend Lee Rulten to anyone who needs support with any element of choosing the best mortgage/products for their needs/new home. Lee has provided terrific advice, assistance and support from the very first day we started the process of looking for our new home. Having Lee support us right from the go was invaluable with finding the correct products to suit our needs and providing a clear understanding of the processes and policies we required. Lee was always available and helped us understand all aspects of buying a new home and reassured our concerns by explaining in a way that is easily understood.

Mel Bennett
Mel Bennett
Mel Bennett

We cannot recommend Shaun and the team highly enough. Shaun gave us excellent advice, he supported us through every step of the process which was difficult due to our circumstances with compassion and understanding as well as insightful knowledge and gave us clear advice. We were turned away from many providers but this team didnt give up on us even though it was challenging and now we are home owners, this would not be possible without them. Thank you Shaun and Lee

Lenka Bilecova
Lenka Bilecova
Lenka Bilecova

Lee has provided 5* service, from 1st initial call throughout the whole process. As a FTB, we had lots of queries and Lee was always happy to talk through and advice, provide examples based on experience. If you are looking for a hands on, reliable and always ready to help broker, look no further. 100% recommended.

Sarah Andrews
Sarah Andrews
Sarah Andrews

Lee has been fantastic at supporting us with finding products to suit our needs from a remortgage to buy to let products. We have been able to achieve the best deals and turn these around efficiently and quickly in order to proceed with our purchases. Lee has been quick to resolve issues and helped us understand any queries or concerns we have had in a way that is easily understood. I highly recommend Lee to anyone who needs support with any element of choosing the best mortgage for their needs.

katie Goddard
katie Goddard
katie Goddard

I highly recommend The Mortgage Centre to go for a mortgage as really supportive and , the service was impeccable and always answered queries quickly .Would definitely choose them again .

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If you are looking to talk to an expert about the most suitable mortgage option for you, we'd love to help you.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

We normally charge a fee for mortgage advice, however, this will be dependent on your circumstances. Our typical fee is £299.

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

The Mortgage Centre is an Appointed Representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority.

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