Mortgages for Civil Servants
Specialist Mortgage Brokers and Advisors for Civil Servants
Those working for the Civil Service, both local and national government, may well benefit from favorable access from mortgage lenders to attractive mortgage deals.
Schemes are available whether you are a first time buyer or looking to move home or remortgage. The benefits of being employed as a civil servant may mean that your mortgage repayments are lower though that will depend on a combination of other factors such as deposit level and purchase price.
How do I qualify for a civil servants mortgage?
Civil servants will be treated in the same way as any other applicants when applying for a mortgage deal but the nature of their employment, in what is seen as a secure and relatively well paid area of the economy, means they may be treated more favorably when being assessed for mortgage finance.
Civil servants are seen as having a good level of job security which is an important factor when assessing mortgages and this may have a positive impact on how much they can borrow.
When applying for a mortgage it is important to provide proof of income and background debts and credit rating. This is usually provided via pay slips and an applicants credit report.
The lender will assess the minimum loan size available which will depend on a combination of factors i.e. pay, deposit and the property value. The loan to value depends on the loan secured and its proportion to the property value. A lower loan to value i.e. usually below 75% will seen as more of a low risk than those purchased with a small deposit. Lower Loan to value mortgages will generally offer a more attractive interest rate offered by the lender.
Civil servants based outside of the UK may also benefit from preferential treatment by a lender when being assessed for a mortgage e.g. members of the Armed Forces who are stationed abroad. This is opposed to ordinary consumers based abroad who may find it more challenging to secure competitive mortgages.
Am I more inclined to get a mortgage as a civil servant?
Yes, if you work for the Civil Service, as long as you can prove a track record of employment and proof of income you may be more inclined to get a mortgage as a civil servant. Clearly the amount you can potentially borrow will be more if you are a high earner. As with all mortgage assessment this will be subject to an applicants level of income.
When arranging a mortgage being in stable employment makes the whole process of arranging a loan much more straightforwards. Lenders are more able to assess your affordability and therefore your ability to repay the mortgage.
Are there mortgage schemes available for civil servants?
There are mortgage schemes aimed at those employed by the Civil Service though the different schemes vary depending on the specific sector of the Civil Service in which you are employed.
As property prices have increased government has worked hard to allow civil servants the benefits associated with getting on the housing ladder.
Most Key Worker Property schemes are heavily weighted towards civil servants whilst government professions such as The Police, The Armed Forces and those employed in the NHS may have schemes specific to their employment.
These schemes are strictly regulated and subject to meeting the terms of each specific scheme.
Why choose Goldmanread as your civil servant mortgage broker?
At Goldmanread we have been helping customers over many years secure mortgage finance to purchase or remortgage their property. Over that time we have helped many civil servants, whether they be first time buyers or those looking to move home or remortgage.
We work with a wide range of mortgage lenders across the UK mortgage market and are fully regulated by the Financial Conduct Authority who oversee the UK regulatory regime when it comes to providing mortgage advice.
We help in every stage of the mortgage application process and have access to a wide range of mortgage lenders and mortgage products. We provide expert advice and have access to mortgages available from specialist lenders and those available from High Street lenders.
Our goal is to help find you the best deal and the most attractive loan level so that your repayments are affordable. We are able to support our customers not only with mortgage advice but general advice around the home buying process.
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Why choose Goldmanread for Civil Servant mortgages
If you need a reliable broker to assist you in getting a reasonable rate on a mortgage, Goldmanread is the place to go.
Get in touch with us so we can schedule a time for you to meet with one of our appointed representatives and have a more in-depth conversation about your mortgage options.
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As a professional mortgage advisor, Goldmanread will assist you with all aspects of the mortgage process. We are an expert mortgage broker regulated by the Financial Conduct Authority.
We will guide you through the whole process and help you find the right mortgage. We have already assisted many public sector workers gain access to affordable housing by utilising affordable borrowing.
We will assess your requirements and assist you with finding the right mortgage whether you’re a first time buyer or home mover.
As a Whole of Market mortgage broker, we can assist key workers with accessing the most suitable mortgage lender. As an independent mortgage adviser you will find us extremely helpful in providing all of your mortgage advice requirements.