The Ultimate guide to Mortgages for NHS Staff – All You need to know!
Whilst there are not specific mortgages for NHS Staff, you may get mortgages that are more suitable.
Some lenders have mortgages for professionals that may have better criteria for NHS staff or let you borrow more. However, when we talk about mortgages for NHS this isn’t generally what we mean.
When we talk about an NHS mortgage we usually mean a mortgage that is packaged in the best way for NHS Staff. As a worker in the NHS you are most likely aware that your pay can be complicated. There are often lines and lines of different aspects of your pay that some lenders may take and others might not.
As an NHS Mortgage broker it is important that we put your application with the right lender to suit your situation, and package your application for the best chance of success.
NHS staff may have access to specialist mortgage products that are not available to others. This may come in the form of professional mortgage products or specialist key worker mortgages.
However, for the most part NHS staff do not really get any form of discount on their mortgage. Generally when we talk about an NHS mortgage it is down to them offering specialist criteria rather than offering any form of discount to NHS Staff.
When we say mortgages for NHS staff we instantly think Doctors, Nurses, Surgeons etc. However, there are lots of occupations that will fall into NHS Workers. Basically if you work in one of the following you will likely be eligible for mortgages for NHS Staff.
These are generally the most common type of mortgage. They offer a fixed rate of interest for a set amount of time. This therefore means that the monthly payment remains the same for that set period of time.
Most of our clients like this as it means that they can plan their outgoings. The main drawback to this type of mortgage would be the early repayment charges usually associated with them. These early repayment charges are often payable if you try to change or redeem the mortgage during the initial period.
This covers lots of types of mortgages for NHS staff. However, they generally have the same basic key points. They will vary over time. This means that your monthly payments may go up or down depending on either the lenders standard variable rate or the Bank of England base rate.
The main benefit of this type of mortgage is that they often do not have any early repayment charges, making them more flexible.
Yes you absolutely can get mortgage for NHS staff with bad credit! We specialise in all NHS mortgages and sometimes you may find yourself in a situation where you have bad credit in the past.
Getting a mortgage with bad credit may be a challenge but is absolutely possible depending on the severity and how long ago it was.
If you are concerned speak to one of our specialist mortgage advisors to find out how we can help.
You can apply for mortgages for NHS staff in a few different ways. You can either give us a call on the number at the top of the page and speak to one of our specialist advisors. Or you can fill in our online form and one of our team will be in touch shortly.
If you’re an NHS worker, then you may be able to get a mortgage with specialised criteria or a discount. In this guide, we’ll explain everything you need to know about mortgages for NHS staff, including who counts as an NHS worker, what types of mortgages are available, and how to apply.
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Albion Forest t/a NHS Mortgage Advice, Sherringham Close, Southampton, SO45 1SQ
By clicking external links you are departing from the regulatory site of Albion Forest Ltd trading as NHS Mortgage Advice. Neither Albion Forest Ltd or PRIMIS Mortgage Network is responsible for the accuracy of the information contained within the linked site.
For Estate Planning we recommend The Willsmiths or Cheap Wills. For Mortgages for Teachers we recommend Teacher Mortgages. And finally for New build contact our team at New Build Mortgages.
Registered in England & Wales number: 12714552 Teacher Mortgages is a trading style of Albion Forest. Albion Forest Ltd is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Advantage Mortgage Funding Limited which is authorised and regulated by the Financial Conduct Authority. Our standard fee is up to 1 % however our typical fee starts at £149.
Discount on NHS Mortgages based on an average of 1% fee of a £150,000 mortgage.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
