Mortgages for NHS Staff

Within the NHS, there are currently 1.4 million people working, and NHS key workers play a large part in providing unmatchable levels of support to individuals in need of bettering their health. Many key workers look to buy a home that is affordable and manageable. However, when it comes to finding the best mortgage for an individual, this task may become difficult, especially as many NHS workers work unsociable hours and different shift patterns, and may have little time to search for a mortgage that best suits them.

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Frequently Asked Questions

Yes, mortgages are available to individuals who work within the NHS. However, you won’t be able to seek a specific “NHS mortgage”.  In this instance, you will discover that a specific type of lender or broker will obtain a mortgage that is tailored to a NHS worker’s wants and needs.

There aren’t specific discounts for NHS staff looking for a mortgage, but more a range of products under professional mortgage schemes, meaning you may qualify for a higher lending amount. If you’re buying a new build house or flat, some developers do offer a discount on the purchase price, for NHS workers.

If you work within the NHS, the help to buy scheme is one of the best options when it comes to finding an affordable mortgage. This is known as an Equity Loan backed by the government. If the house buyer has the income to pay a 5% deposit, this gives the buyer access to up to 20% of the purchase price of a home. For London residents, the percentage rises to 40% regarding the purchase price.  This is available for new build homes only.

This scheme is coming to an end soon though, and the government haven’t yet announced a replacement.

Not necessarily, as this all depends on what income you currently have and what deposit you are able to manage. However, working within the NHS may allow a lender to better understand what your mortgage may include to best fit your needs going forward.