Head of Content
Mortgage Advisor & Director
Are there mortgages for NHS staff?
As an NHS worker, you will be pleased to know that there are specialist lenders who cater to your specific needs. At Teito, we are a whole-of-market mortgage lender, and our team of experienced advisors have helped many NHS staff to get the best deal possible on their new mortgage.
Complete our simple online form to get started or carry on reading to learn more.
How do I qualify for an NHS mortgage?
To qualify for a designated 'NHS mortgage', you will need to be employed on a permanent contract for clinical staff in one of the following areas:
- GP surgeries
- Ambulance Trust
- NHS Direct
- National Blood Transfusion Service
- Primary Care, Mental Healthcare and Social Care Trusts
- Dental practices with NHS status
- Health Protection Agency
- Other NHS trusts
If you do not fall into the list above; for example, you are not employed permanently, there are still options specifically for medical professions. Get in touch with one of our team to learn more.
Why can NHS personnel struggle to get a mortgage?
There are many diverse roles within the NHS. Some of the challenges that NHS personnel can face when applying for a mortgage include:
- Irregular hours and income can make it difficult to demonstrate to a lender that you have a stable salary.
- NHS workers on a low income can struggle to borrow the full amount they need.
- Some NHS staff work on a temporary contract which can cause problems for lenders.
- Being self-employed creates additional challenges in demonstrating a secure and stable income.
- Gaps in employment, particularly if you are working as a locum doctor or nurse.
What Government schemes are available for NHS staff?
Although there are no specific NHS staff government schemes, there are several other schemes you might consider:
Help to Buy Equity Loan scheme
The Help to Buy Equity Loan scheme helps first-time buyers to buy a home. The Government lends you up to 20% to put towards your newly built home; you put up a deposit of 5% and mortgage the outstanding 75%. In London, the upper loan limit is 40%, with the deposit remaining at 5%. Read more about the Help to Buy Equity Loan scheme.
The Right to Buy scheme is for council housing tenants in England, Wales and Northern Ireland. The programme allows tenants to buy their home at a discount. The right to acquire scheme is similar, however, applies to housing association tenants instead.
The Rent to Buy scheme allows prospective homeowners to pay subsidised rent on a newly built home for up to five years (depending upon the property). During that time, you have to option of buying the property either outright or under a shared ownership scheme.
The Help to Buy Shared Ownership scheme enables you to own a portion of your house, ranging from 25-75% of the value. You will pay rent on the remaining share and will have the opportunity to increase your ownership share. Read more about the scheme here.
Read our Government Schemes page to learn more about the other types of scheme available.
Where can I learn more?
We have specific guides covering the following roles in more detail:
How can I apply?
Our experienced team of mortgage advisors have access to deals that are not accessible to the general public, including specialist lenders for medical professionals.
NHS staff can find that they don't meet the specific requirements set by high street lenders. Don't worry, some lenders specialise in NHS staff, and at Teito we can help you to get the best deal possible.
PHOTO COPYRIGHT Tessy Agbonome
Get your mortgage in principle certificate in 5 minutes
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
Last updated 4 March 2024