Mortgage360 Logo

Call Us

0330 122 5022

Email Us

hello@mortgage360.co.uk

Mortgages for Nurses

Ready to talk?

CTA Booking Form

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Mortgage360 are here to help you make the right choice.

Here at Mortgage360 we pride ourselves on offering tailored advice, coupled with great service. We are mortgage experts, so you can rest assured that you are in safe hands when searching for your new mortgage, whatever your situation may be.

Key Benefits

We are committed to guiding you through one of life's most significant financial decisions.

When it comes to securing the right mortgage, our expert team is here to ensure that you make informed choices tailored to your unique needs.

Yours is a respected profession – we’ll help you to access the right lenders.
We understand the intricacies of short-term contracts, agency working and shift patterns, and can advise accordingly.
We’ll help and advise you at every stage of the process.

Reports in the media constantly highlight the difficulties facing key workers like nurses who want to get on the property ladder but are faced with difficulties relating to affordability. The problem is exacerbated in the London area, where average house prices are so much higher.*

Securing mortgages for nurses and owning your own home needn’t be an impossible dream. Your profession is respected and there are many mortgage lenders who are willing to consider you for a standard residential mortgage, despite the challenges posed by issues like lower pay, short-term or agency contracts and complex shift patterns.

As a nurse, you have access to the same mortgage options as any other applicant. At Mortgage360, we’re here to help you access the right lenders and secure the right deal. Take a look at our mortgage affordability calculator to get started.

* Source: Mortgage Strategy. 15 February 2023.

Is it difficult for nurses to get a mortgage?

Nurses are often subject to variable working arrangements, complex shift allowances and fluctuating overtime pay, which can make it more difficult for a mortgage lender to assess income and affordability based on their standard processes.

Add to that the complexity of bank or agency nursing shifts often undertaken by nurses employed on permanent NHS contracts, plus the probability of student debt and high street lending criteria are often tricky to satisfy for most lenders.

Your basic fixed salary may be supplemented by flexible shift patterns and overtime earnings, which are difficult to forecast and make it more complicated to assess your income over a period of time.

None of this means you won’t be able to secure nurses mortgages, but rather that you will benefit from seeking the assistance of specialist mortgage brokers, who will be able to identify specialist lenders sympathetic to your situation.   

Do nurses get cheaper interest rates on mortgages?

There are no specific mortgage discounts for nurses, and nurses are often subject to variable working arrangements, complex shift allowances and fluctuating overtime pay, which can make it more difficult for mainstream lenders to assess income and affordability based on their standard processes.

Can newly qualified nurses apply for a mortgage?

If your finances are in order and your credit history is good, there is no reason why you shouldn’t apply for a mortgage as a newly qualified nurse, despite having little or no employment history. The same goes for bank, agency and student nurses.

It may be more challenging, but you can even put in an application before you start your first placement. You’ll need all the usual documentation for a mortgage application.

Are there key worker mortgage schemes for nurses?

The popular Key Worker Mortgage Scheme ended some years ago and the Help to Buy Equity Loan scheme is now closed to new applicants, but nurses can access the government’s First Homes Scheme which has been running since June 2021. Your household has to have a combined income of less than £80,000 to qualify (£90,000 in London).

Other government schemes include the First Homes Scheme, which relies on a network of affordable homes across England, which are then made available to eligible people for 30% less than the market value for the specific location. These homes can then only be sold on to other eligible applicants, so the property holds this discount in perpetuity.

In addition, there are Shared Ownership schemes allowing you to acquire as little as 10% of a home up to 75%, and pay rent on the remainder. You can increase your share over time, using a process known as ‘staircasing’.

If you rent a local council or housing association-owned property you may be eligible to buy this under the Right to Buy scheme. Talk to your mortgage advisor.

Can agency nurses get a mortgage?

If agency or bank work is your only source of employment, then securing a mortgage deal can be more challenging. Mortgage lenders will expect you to be able to provide more evidence of your income and your stability of employment.

If you’re paid on a PAYE basis but have no fixed term contract of employment, you will be expected to evidence proof of employment in excess of 12 months. If you work on a self-employed basis, this can extend to two to three years, but this is no different to any other self-employed professional.

If you can evidence a good credit history, savings for a good deposit and healthy personal financial circumstances, this will help with your application and secure the right mortgage deals.

Can I get a mortgage as a bank nurse?

If your sole source of income is as a bank nurse through an agency or agencies, then it is possible to get a mortgage, but you must be able to evidence a consistent track record of your working patterns and earnings over a period of time. Bank nurses should consult with a professional mortgage broker to optimise their application.

Will lenders take my nights, shift allowances and overtime into consideration?

Nurses often have to contend with presenting a more unusual income structure when applying for a mortgage, taking into account shift patterns, overtime payments and agency income, amongst other things.

Although some mortgage lenders will only consider your basic salary in support of your mortgage application, there are many others who are willing to look favourably at the patterns you can present in your earnings over time, in support of the amount you can borrow and your affordability considerations.

It’s the role of your mortgage broker or specialist mortgage advisor to guide you in the right direction and identify the right opportunities to match your personal circumstances.  

How Mortgage360 can help a nurse get the right mortgage deal

At Mortgage360, we want to help you secure the most advantageous deal. We have access to specialist mortgage lenders who understand the challenges you face in terms of supplementing your basic salary with overtime and agency nursing work.

We secure mortgages for nurses – we’ll match you to a suitable lender and guide you through the mortgage process. We’ll help present you as a reliable borrower and support you through achieving the most flexible terms and competitive interest rates.

Contact us today to start the journey!

Mortgages for Nurses

Here at Mortgage360, we can provide expert advice on all your mortgage and insurance needs.

Whether you’re ready to get started on your journey now, or you’d just like a no obligation consultation, we’d love to hear from you…

Contact Form - Home Page

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Reviews

See what our clients are saying....

google
Pippa Lister
April 11, 2024

Gavin at Mortgage 360 was superb throughout. He responded quickly to any questions or queries we had, worked round our busy work life with evening zoom meetings and kept us regularly updated. He made the whole process straightforward and clear. Thank you Gavin

google
M Wick
April 10, 2024

Matt at Mortgage360 is an amazing broker. He was always on hand to lend support and offer calm and well explained help. As a first time buyer, his help was always appreciated and the service which they offer is top notch. I could not recommend mortgage360 highly enough

google
Stormin' F
March 13, 2024

I cannot recommend Gavin more highly for his invaluable and trustworthy expert support in navigating through the mortgage process. I have used Gavin’s services several times over the years and he had always gone above and beyond the call - thanks Gavin.

google
Ash Gibbs
March 9, 2024

Gavin has helped us to no end. Brilliant service and he was willing to go the extra mile to ensure we got the very best deal.

google
Ross McWilliams
February 22, 2024

Our experience using Mortgage360 has been absolutely brilliant. Matt has been there for us and supported with our mortgage application every step of the way, with an excellent outcome. Thank you for everything - you’re a star!

google
Jonathan Bush
February 16, 2024

Gavin arranged my Mortgage for my first home and i couldn't have been happier with the service received, explained things in great detail and communicated efficiently. I would recommend Mortgage360 to anyone in need of mortgage advice and I will be definitely using them in the future.

google
Nigel Porritt
February 15, 2024

I contacted Mortgage360 I was looking for help with the purchase of my first home. They were great at explaining all of my options, taking time to ensure I understood everything fully and constantly provided updates throughout the whole process. I couldn’t have asked for a better service and would highly recommend them. Thanks Gavin and Matt!

google
Richard Espin-Bradley
February 9, 2024

Matt Illingworth was superb! Readily available on the phone, or always called back within a short space of time. Made plenty of time to discuss our needs and never tried to hurry us into making decisions. His advice was clear and helpful.

google
James Hall
February 9, 2024

Gavin at mortgage360 has been outstanding, gives incredibly in depth information about all things mortgage related. Has helped us secure a mortgage at a better rate than we could have got ourselves, saving us lots of money. He made the whole process as stress free as possible and provided all templates for files we needed to send and always got back to our queries within a couple of hours at maximum. If I could give more than 5 stars I would. Keep it up Gavin!

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
MOST BUY-TO-LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

There may be a fee for arranging a mortgage. The precise amount will depend upon your circumstances, however we estimate this to be between £200 and £600.