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You are here: Home / Mortgages / NHS Mortgages / Mortgage for doctors, nurses and other NHS staff

by Payam Azadi

Mortgage for doctors, nurses and other NHS staff

Mortgage for doctorsGetting a mortgage if you are employed as a Surgeon, Doctor, Nurse, ambulance services or any other part of the National Health Service

We are getting an increasing number of enquiries from applicants who work for the National Health Service who are struggling to find mortgage lenders that understand their remuneration packages and working patterns which is affecting them getting a mortgage.

First of all, as a National Health staff member there are some good and bad points which affect the ability to obtain a mortgage. The positives are the salaries are generally high with good level of protection and employment rights. The downside is often the pension contributions are high, which some lenders take into affordability calculations, as such directly impact on the amount lender is willing to lend.

Income is typically made up of various components such as basic, shift allowances, overtime and bonuses. It is also common for Doctors and Surgeons to supplement their earnings with consultancy work outside their normal practice with the income derived in a sole trader or limited company entity. Carers might also take on a similar ‘self-employed’ approach with the work underpinned by a one or a series of ‘zero’ hour contracts. Nurses could be work for an agency ‘bank’ nurses. This mixture of income streams and structures can be difficult to decipher and put mortgage lenders off.

The reality is you need a Mortgage and work in the NHS then you should find a Mortgage Broker that is familiar with their grading systems and workings, such as Niche Advice.

If you work for the NHS and need to get a mortgage, please complete the enquiry form on this page or alternatively call us on (020) 7993 2044.

Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.

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Filed Under: NHS Mortgages, Uncategorized Tagged With: Mortgage for doctors, Mortgage for NHS staff, NHS Mortgage Broker

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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

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