Nurses deserve professional mortgage advice
Our nurses are the lifeblood of the NHS and play an essential role in our society. As such, we at Goldmanread are passionate about providing nurses with the very best mortgage advice.
As a specialist and experienced mortgage advisor, we can recommend the best mortgage lender to suit the needs of either first time buyers or home movers. We can also assist you if you have experienced bad credit.
We have access to lenders who offer exceptional mortgage deals to NHS staff, some with competitive mortgage discounts for nurses.
Can I qualify for any mortgage as a nurse?
Nursing is a stable profession and is duly recognised as such by lenders. Therefore, most lenders see mortgages for nurses as a safe and profitable investment. Whilst there are a few schemes specifically aimed at helping nurses on to the property ladder, nurses are of course eligible for the full range of mortgages available on the market.
Most nurses are classed as Key Workers and, as such, qualify for the Key Worker mortgage scheme. As always, the lender will take account of your income, commitments and any bad credit you may have to assess mortgage affordability.
Does being a nurse help to get a mortgage?
Nursing is a stable, long term career with salary progression. Nurses can also generate additional income with shift allowances, via bank work or extra overtime. Therefore, nurses are recognised as a low credit risk by many lenders, as they are likely to meet their mortgage commitments in the long term.
Each individual will be assessed on their personal circumstances of course, but being a nurse certainly provides reassurance to lenders.
Are there special mortgages for nurses?
Whether you are an experienced nurse, newly qualified nurse or one of the many agency nurses in receipt of self employed nurse income, there are schemes available offering mortgage discounts in the form of free valuations, cash back and other incentives.
There are also many housing schemes offered throughout the UK which nurses are eligible for, which allow them to access the property market at more affordable rates. However, this comes with conditions attached and may require the borrower to pay rent on part of the property. This is a good example of how the advice of a trusted mortgage broker can be very valuable to nurses.
How much can a nurse borrow for a mortgage?
As a nurse, the amount you can borrow depends on your income and current career stage. Lenders will take into account a number of factors when calculating borrowing levels including income, financial commitments and the amount of deposit available.
When calculating your total income, the lender will use your basic salary and also take into account extra income from working as a bank nurse or from flexible shift patterns. Bank nurses generally have to be able to demonstrate a track record of income from this source.
As with any applicant, lenders will assess mortgages for nurses based on any past adverse credit, although the effect of this on the mortgage level will depend on the type and level of bad debt.
If this applies to you, then a mortgage broker such as Goldmanread has the experience and contacts to be able to approach the right lenders on your behalf.
I am a self-employed nurse – can I get a mortgage?
Those nurses in receipt of self-employed income are eligible for a mortgage. This is as long as they can demonstrate a proven track record of working either on a fixed term contract, as an agency nurse or from bank work.
I am a recently qualified, self-employed nurse – can I get a mortgage?
One of the key things lenders look for when assessing Key Worker mortgages is a stable employment history. Therefore, it may be more difficult for newly qualified nurses who have only recently become self employed to arrange a mortgage, as there is no verifiable track record for the lender to check.
The borrowing level may also be affected by your employment structure, be that a sole trader, limited company or partnership. Good mortgage brokers have access to lots of lenders and can do all of the necessary research on your behalf.
Will I be credited different if I am not an NHS staff member?
If you are a nurse not directly employed by the NHS, lenders will still consider you for a nurse’s mortgage and take account of your base income and any other variable income you receive. As with NHS staff, lenders require details of your exact salary, which you must be able to demonstrate with payslips and bank statements.
Goldmanread, trusted mortgage brokers for nurses
Goldmanread is a specialist mortgage advisor, and we count all sorts of NHS staff as valued clients. We have been providing mortgage advice and securing mortgages for nurses for many years.
As a Whole of Market mortgage broker, we have access to a wide range of mortgage providers. This extends beyond high street lenders to specialist lenders, who can offer very competitive mortgage options to nurses and other NHS employees.
To find out more about our NHS mortgages service, please get in touch for a free initial consultation.
How does it work?
When formulating our advice we’ll take into account loan fees and the type of rate available be that a fixed rate or discount mortgage rate. Our service works as follows:
- An initial appointment to to help understand your requirements.
- Based on this information we offer a mortgage recommendation. If accepted we arrange an agreement in principle with the specific lender recommended. We offer specific mortgage advice aimed at getting you the most suitable NHS mortgage.
- Once you find and agree a price on a specific property we will manage the whole process through to completion.
Goldmanread provides advice on every government scheme aimed at the NHS employee and pride ourselves on the high quality service we offer.
We have access to mortgage deals which are offered by lenders who you will not find on the high street. We can also assist you with arranging insurance to accompany your mortgage such as income protection or critical illness policies.