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NHS Mortgages

Author: Myles Robinson - Expert Finance Advisor

Posted: Jul 12, 2022

NHS mortgages specifically for NHS staff

As mortgage brokers, we often get asked about NHS mortgages. We have a number of mortgage lenders who can give mortgage advice for NHS mortgages.

Around 1.5 million employees work for the NHS, including doctors, nurses, dentists, and radiographers. We have created this guide to help people find out their options for mortgages.

If you are interested in applying for a mortgage for NHS staff, and you work for the NHS, then read on! If you would like mortgage advice or discuss a mortgage approval you can call today for free NHS mortgage advice.

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Get mortgages for NHS staff today

Although there are no “mortgages for NHS” that are specifically tailored for all NHS staff and employees, some lenders can cater to the needs of NHS staff and offer mortgage discounts. Mortgage brokers have lenders who may be more flexible in assessing applications, as they might favour certain professions such as those working for the NHS.

Reliable borrowers are those who have job security and the potential to earn more, depending on their role.

A number of schemes are available to help homeowners afford their homes. These schemes can be applied by NHS workers and NHS staff.

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Can I get a mortgage on the NHS?

You can apply for a mortgage if you meet the eligibility requirements. An ‘NHS mortgage’ is not an exact type of mortgage. There are lenders that specialise in working with NHS workers and offer mortgage discounts. This is why the term “NHS mortgage” or “NHS mortgage scheme” might be used.

Only a few lenders offer schemes specifically for doctors or clinicians who work in the NHS. Specialist lenders are likely to offer professional mortgages to doctors.

These deals allow borrowers who are in certain professions such as pharmacists, doctors, dentists, and medical doctors to access increased income multiples and a more flexible approach for underwriting.

A professional mortgage can allow you to borrow up to 5.5x your annual salary. This is because a lender typically lends 4.5x your annual salary.

You can find these deals from many specialist lenders. It is a good idea to compare all options in order to choose the right provider.

Call today for free mortgage advice if you are looking for an NHS mortgage.

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Who are the mortgages for NHS staff intended at?

To apply for mortgages for NHS staff, you must be employed as ‘clinical personnel’ on a permanent basis in one of these NHS areas.

NHS Staff Mortgage:

  • GP surgeries
  • Ambulance Trust
  • Primary Care Trusts
  • NHS Direct
  • National Blood Transfusion Service
  • NHS-certified dental practices
  • Health Protection Agency
  • Trusts for Social Care and Mental Healthcare
  • Other NHS trusts

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Is there any restriction on a mortgage for NHS staff?

Your eligibility will be affected by your position in the NHS.

All NHS staff can be considered for any mortgage scheme that a lender may run. However, if you are deemed medical staff’ like a doctor, or dentist, you will not be allowed to apply.

If you are an administrator or domestic worker, or if your job is as a porter, you won’t be eligible for mortgages for NHS staff.

Do I qualify for the NHS key worker mortgage program?

The government considers you a key NHS worker if you are a member or a deputy of clinical staff. The NHS mortgages were originally part of the key worker mortgage programs.

Unfortunately, this scheme is no longer in operation. However, there are affordable mortgages for NHS workers available that have lower interest rates, smaller deposits, and other discounts.

  • Help-to-buy
  • Shared ownership
  • NewBuy scheme 

What kind of mortgages is available for NHS staff?

As mentioned at the beginning, although there isn’t an “NHS mortgage”, there are brokers and lenders who specialize in mortgages for NHS employees who can help you find the best deal.

You can still apply to a variety of mortgage types including mortgage buy-to-let or joint mortgages. Or you can apply for affordable housing.

A mortgage broker can help you discuss your options and take your individual circumstances into account. Send us an enquiry, and we’ll get you in touch with one of our experts.

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There are other support options for NHS workers

Although there is no other support for home buyers for NHS workers, you can still apply to the available schemes, regardless of your occupation. These include:

First Homes

The long-awaited First Homes scheme was launched in the summer of 2021. It offers eligible home buyers in England discounts of at least 30% (or up to 50% in high-priced areas) on certain new builds.

Buyers must be buying their first home, and have a household income of less than £80,000 (£90,000.00 in London). The mortgage amount must not exceed 50% of the home’s price.

First Homes is a scheme that helps local residents and people providing essential services afford to purchase property in the area. Local authorities have the power to determine eligibility criteria. This could include prioritising key workers or proving a local connection.

Housebuilder discounts

Some house builders offer discounts on properties for key workers, such as some NHS workers. For every £25,000, this could be a £500 discount.

Before you apply for a mortgage or speak with a mortgage broker, talk to your builder about any discounts that you might be eligible for. These discounts may be combined with a Help To Buy loan.

Equity Loans for Help with Buying

Borrowers who have a deposit of 5% can get a loan up to 20% of their purchase price (or 40% in London). The loan is interest-free for five years.

The Help To Buy: Equity Loan scheme is only available for the purchase of a new-build property. The maximum property price can vary from one region to another. The maximum home value in Wales is £250,000.

The Help to Buy Affordable New-Build Scheme in Scotland has been closed to new applicants. However, there is a Low-Cost Initiative for First-Time Buyers. For more details, visit Gov.Scot. Northern Ireland does not have an equity loan program.

Part ownership

You can buy a share of a home if you don’t have the funds to purchase your own. Shared ownership allows first-time buyers to buy a portion of a newly-built property and then rent it to them the rest.

Through staircase, participants in shared ownership can increase their share to as high as 100% over time. Rent will cease to be payable once you have reached 100%. Some properties may still have service charges, while others may have lease restrictions that limit your ability to own a maximum of 80 percent.

Social HomeBuy

Tenants of housing associations or council properties in England can purchase a share in this scheme. Start with a 25% stake, and you can increase it to 100% if you have the funds. As your share grows, the rent you pay for your property decreases.

Northern Ireland has its own House Sales Scheme. This allows tenants of social housing landlords to purchase their homes at a discounted price.

The 5% mortgage guarantee program

The 5% mortgage guarantee scheme was launched by the government to encourage lenders to offer 95% LTV loans.

This scheme is designed to encourage lenders to offer loans for first-time buyers or home movers.

Lenders will take on greater risk if they have a smaller deposit than if they have a larger loan.

The government has offered to pay lenders compensation for losses resulting from offering higher-risk loans. This is in order to help new buyers.

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Are NHS employees eligible for discounts on mortgages

You’ll be pleased to know that many providers offer discounts for NHS workers on mortgages. These discounts may be available to both current and retired NHS employees.

You can get a mortgage with an affordable housing program mortgage. This will allow you to buy a property with a lower deposit and reduce loan fees for a set period, such as five years.

What is the maximum amount I can borrow for a mortgage to support NHS staff?

You must show that you are able to repay the loan.

Your lender will conduct an affordability evaluation taking into account your credit history (poor credit does not necessarily mean you won’t be offered a mortgage, but it could limit your options), your monthly outgoings, your age, and the NHS pay band that you are on.

How to Apply for Mortgages for NHS staff

For most mortgages, you can apply directly to high-street lenders. If you are unsure about your ability to pay or you believe you will need a specialist lender, it may be helpful to talk to a mortgage advisor (also known as a broker).

As a mortgage broker, we can recommend a lender to you after a thorough evaluation of your situation. This will save you stress and protect your credit score. It also guarantees you get the best deal.

New-build buyers will be able to obtain information from their mortgage lender, broker or house builder about the relevant home buyer programs and discounts.

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