NHS mortgage

Can you explain the mortgage application process for an NHS worker?

Absolutely. First of all, let’s just say that lenders love the NHS. People there will never be out of a job, as the NHS is always crying out for workers.

NHS employees, whether it be nurses or healthcare support workers, often have variable hours and different shift patterns. Lenders tend to be a lot fairer with workers in the NHS and will generally take 100% all of that, as well as basic pay, if they can see it’s all regular. They know overtime will always be available and we can often use either 50% to 100% of that.

When somebody comes to us for a mortgage, whether in the NHS or any other industry, the first question is always, how much can I borrow?

For an NHS worker with these different types of pay, the first thing to look at is the lenders that will take the vast majority on board. How are you employed? Perhaps you’ve only just started working there. But lenders don’t worry about probation periods. If you’ve got a job, you’re in, no problem. It doesn’t matter if you haven’t been there long.

Fixed term contracts are quite common now in the NHS, as well. Some lenders, particularly one high street lender at the moment, will just treat you as employed [podcast recorded in February 2025]. When your contract comes to an end, they know you’re going to get another one without any problem. You’re treated extremely fairly.

What documentation do I need to provide for a mortgage as an NHS worker?

Like any other form of employment, most lenders will want three months’ pay slips. As part of the Financial Conduct Authority rules, as your broker we need to see three pay slips as well. We need the last three months’ bank statements too, evidencing that money going in and your outgoings, plus any other credit card, loan or other regular payments you make.

We need to understand what the form of deposit is. That could be savings, which will be held in a separate bank account, and we need to see evidence of that. It could be a gifted deposit – often the Bank of Mum and Dad provides the deposit. We need some kind of paper trail for that – usually some bank statements.

Lenders normally want their own separate form or letter filled in from the person making the gift, for anti-money laundering reasons. We need to see the money has come from a justified source. We also need some ID – a passport or driving license and proof of address as well.

How can I find a lender that offers a mortgage as someone who works for the NHS?

As I said, most lenders always look at the NHS positively. The quirks can be around how you’re employed, if you’re on a fixed-term contract, that type of thing.

Also, NHS workers often do bank work, where a staff nurse, for example, will do their normal job and then do extra bank shifts. This is obviously a second form of income. Most lenders will take that second form of income if they can see evidence of its history.

You get a separate pay slip when you do bank work. Lenders just want to see how it can vary and how long you’ve been doing it for. Whether you’ve been doing 12 months of bank or six months, some lenders will have different criteria on that. If you are on a short-term or fixed-term contract with the NHS, lenders will have different criteria – they’ll either accept that or make it a bit more difficult.

What are the typical interest rates and loan terms for a mortgage as someone who works for the NHS?

It’s like you’d expect for anybody applying for a mortgage. Interest rates are always governed by the deposit you can put down. Whether you have a 5% deposit or 25% deposit will set the bar of your interest rate.

With a 5% deposit, you’re going to pay a higher rate. The more deposit, the lower the rate.

Can I use a mortgage to buy a property jointly with someone else as an NHS worker?

Absolutely. No issues there at all, you could be an NHS employee buying with somebody who’s employed or self-employed.

One good point on this is where you have a couple, and applicant one works for the NHS – perhaps they are a doctor. Their partner is, let’s say, a builder. If you’re a doctor, some lenders will class you as a professional and will give you a higher income multiple.

If you’re a First Time Buyer and you’ve got a 5% deposit, most lenders will do an income multiple of 4.49 times your income. It can differ, but that is the rule of thumb. If you are a professional with a 5% deposit, like a doctor, some lenders will go to five to six times income.

They know that as you get more experience, you will earn more money. So if one of you is a doctor, you can get a higher value mortgage. Not all lenders do this, only a few.

What happens if I’m no longer employed by the NHS after obtaining a mortgage?

Let’s use an example, where a nurse buys their first place, they move in and the mortgage starts. For whatever reason, they then come out of the NHS to pursue something else. As long as you’re paying your mortgage, the lender doesn’t need to know. They just want you to pay your mortgage with no problems.

However, if you change jobs during the mortgage process before you’ve moved in, and it’s a change of employment from one industry to another, you have to let us know.