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Mortgage Advisor & Director
How to get a mortgage as a police officer
It can be difficult for police offers to know where to look when it comes to getting a mortgage.
There are plenty of deals available from mainstream lenders, but how do you know if they are right for you? At Teito, are experienced mortgage advisors have helped many police officers like you to get the best deal possible on their new mortgage.
Our team has access to deals not available on the open market.
If you're ready to start your application, complete our simple online form or to learn more, carry on reading.
Are there specialist mortgages for police officers?
As a police officer, you are seen as a preferential applicant in the eyes of a mortgage lender.
With a stable income, long term career with clear progression opportunities, being a police officer can have a positive effect on your application.
Police officers are classed as Key Workers, and up until 2019, there were distinct mortgages for Key Workers. However, these schemes are no longer active. Fear not; there are lots of other opportunities available for a police offer looking for a mortgage.
What is a key worker?
A key worker is someone who works in a role that is central to society, including NHS staff, teachers, police officers, firefighters, social workers and defence personnel.
To qualify as a key worker in a mortgage application, you need to:
- Demonstrate that there are no affordable homes within commuting distance
- Be a British, EU or EEA citizen - or have indefinite right to stay in the UK.
- Show you have enough savings to pay for the costs associated with buying a home
- Be in permanent employment
- Have no other property
- Have at least five years remaining before retirement
Our advisors can help you understand whether you are eligible - get in touch today.
What Government schemes can a police officer apply for?
Here are a few of the Government schemes that a police officer might consider applying for:
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% of the cost of 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 requirement remaining at 5%.
Right to Buy and Acquire
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. Read more about the Right to Buy and Acquire schemes.
Rent to buy
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 allows you to own a share of your home, 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.
How can I apply?
Complete our quick and easy online form today to get the process started.
One of our experienced advisors will be in touch to discuss your police mortgage.
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.
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Last updated 4 March 2024