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Mortgages for nurses

We specialise in offering expert mortgage advice to nurses and other medical professionals to help you get the best mortgage deals.

It’s important to understand how mortgages for nurses works and how it can impact the rates that you might pay. Most of the time there are no issues and you should be able to get a great deal on your new mortgage or remortgage.

Sometimes, there are circumstances where nurses might find it slightly more difficult to get a mortgage and we can help.

Recent figures from nurses.co.uk suggests that there are just over 700,000 registered nurses in the UK (March 2022). The number of nurses has increased by 3.37% since 2021 from 681,525, and continues to grow.

About mortgages for nurses UK

A nurse is a fantastic occupation that we are extremely proud to support, and the incredible work that nurses do.

There are several main types of nursing jobs that we can help to provide expert mortgage advice for:

  • District nurse
  • GP nurse
  • Health visitor
  • Neonatal nurse
  • Prison nurse
  • School nurse
  • Theatre nurse

There also might be more complicated elements to how your income works which we understand, including:

  • Self employed
  • Contract workers
  • Multiple income streams
  • Newly qualified
  • Bursaries
  • PAYE

There’s nothing more frustrating that having to answer unnecessary questions about your income. We aim to make this process as simple and straight forward as possible without the need for additional financial questions.

Mortgage programs for nurses

It has been heavily publicised over the past few years especially through the pandemic, that nurses should be supported more.

The government have also been urged to provide better support for nurses and nursing staff. There are some schemes that are available specifically to help those in key worker roles and some of those are still available today.

Government scheme can also be accessed by some nurses that might offer some extra help to get the best deals. Getting a foot on the property ladder can be difficult and these schemes are designed to support nurses and other people in that position.

Some mortgage programs for nurses include:

  • Help-to-buy or Right-to-buy schemes
  • Shared ownership
  • First time buyer schemes

Some of the benefits that are being offered include:

  • Assisted deposits
  • Government mortgage guarantees
  • Special rates and deals

Key worker mortgage scheme for nurses

Another element of this is the key worker mortgage scheme for nurses that was designed to provide additional financial support.

This scheme was designed and offered during the pandemic to help nurses and other key workers to buy or rent a property. Unfortunately, this scheme was stopped towards the end of the pandemic when lockdown rules were eased.

This scheme or similar schemes may become available again in the future so we are always keeping our eyes open for it.

Mortgage broker for nurses

It is essential to deal with a mortgage broker that you trust and that can provide you with the relevant expertise.

Mortgage advisors for nurses should understand your profession and how it may differ from others in standard employment. They should also be able to access the best mortgage deals for nurses from a suitable panel of lenders. A specialist will be able to ensure you can save on the repayments on your mortgage.

We do specialise in this area and work specifically with nurses and other medical professionals to help get them the right deal.

Mortgage deals for nurses

There are certain mortgage deals and lenders that will undoubtedly be better for nurses, purely based on your background and circumstances.

Most of the best mortgage deals for nurses will take in to account:

  • Income and potential income irregularities
  • Credit history
  • Occupation and profession
  • Affordability

Some of the other factors might be that you are within your training or qualification period which is common. You might also be classed as self employed or working on a contract basis which can have an impact on your ability to borrow.

There are also several other areas to consider, such as:

  • Purchase or remortgage
  • Loan-to-value (LTV)
  • Fees and charges
  • Mortgage type (e.g. Fixed, Discount, or Tracker rates)

Mortgage for NHS nurses

Generally speaking, an NHS nurse would find it reasonably simple to find a mortgage and there are certain schemes available.

There are many advantages to being an NHS nurse and from a mortgage point of view it can certainly be helpful. Some of the main benefits to being NHS staff related to your mortgage are:

  • Regular income
  • Employment history
  • Reliable profession
  • Lower mortgage rates
  • More options

There are only a couple of potential issues with getting a mortgage for NHS nurses:

  • Bad credit history
  • Low credit score
  • Negative equity / no deposit

You should be able to get a very competitive mortgage rate as an NHS employee and you should have plenty of options.

Best mortgages for nurses with bad credit

If you have issues with a low credit score or bad credit, then you’ll have similar issues to others in the same position.

Our team of qualified mortgage experts has m any years of experience in helping people with all kinds of bad credit. Some of the most common credit problems that we can help with are:

Missed credit payments (e.g. credit cards, store cards, loans, etc.)

There are often several options depending on the levels of adverse credit in your past and how long ago they were. Most of the time we are able to get very competitive mortgages for nurses with bad credit.

You can also improve your credit score over time so there may also be options to lower your rates in the future.

For more information on accessing a mortgage with poor credit CLICK HERE.

Mortgage lenders for nurses

There are around 100 different mortgage lenders in the UK and usually 1,000’s of mortgage rates or deals to choose from.

It can be confusing to know which is the best lender for you and which lenders will offer the best terms. We have a team of qualified mortgage experts who can take the stress out of applying for a mortgage with the best lenders.

Some of the top mortgage lenders for nurses that we deal with:

  • Barclays
  • Halifax
  • HSBC
  • Natwest
  • Santander

Each lender has their own criteria for how they work and will offer different rates depending on your circumstances. Finding the best lender can also be the difference between getting a mortgage approved and potential issues.

Mortgage specialists for nurses and other medical professionals

As a nurse, we appreciate that your time is precious and how important service can be.

There are also potential challenges to applying for a mortgage as a nurse or other medical professional which is one of our key areas. There’s nothing worse than paying more than you should or wasting your time on bad advice.

Mortgages for nurses, and mortgages for medical professionals generally, are an area in which getting the right mortgage advice can make a major difference in your ability to get a mortgage loan.

Speak to one of our specialists for EXPERT advice, or CLICK HERE to start your research into the application process.

Useful resources

Citizen’s Advice – Buying a home

Nurses.co.uk – Stats and facts on the UK’s nursing workforce 2022

Gov.uk – How to buy a home