We often hear from doctors, nurses and other NHS staff who have been turned down for a mortgage by their bank or who have been told they can’t borrow the amount they need in order to buy the home they really want.
Some mortgage lenders will only look at your basic salary when deciding how much to lend you and won’t take into account your regular overtime payments and shift allowances.
Others will choose to ignore the additional fees you earn from your private practice – even though these may make up a considerable chunk of your annual income.
And some banks will turn down your mortgage application if you’re newly qualified or if you’re a foreign national without indefinite leave to remain.
At Mortgage Broker Services, we’ve built relationships with lenders who understand how NHS staff work and how you get paid and who therefore will treat you like a hero.
This means we can help get you a mortgage based on your full income, allowing you to borrow way more than you’d get from some High Street banks – up to 6 times your salary in some cases. Plus, in most cases, you’ll be able to borrow up to 95% of the property value – meaning you won’t need to scrimp and save to build up a massive deposit.
We can even help you get a mortgage if you’ve just started working for the NHS or you’re a foreign national.
We’ve got access to 1,000s of different mortgages from over 70 lenders, including exclusive deals that aren’t offered direct to the public. This means we can save you money every month by getting you the right rate for your mortgage.
This applies whether you are buying a new home or if you want to reduce the costs of staying in your current home by arranging a remortgage.
Some of the lenders we work with will even cover the costs of your valuation and legal fees, saving you even more money.
We can help get you a bigger mortgage by using a lender that will take into account your basic salary plus your overtime payments, shift allowances, bank hours, locum fees, and any other income you earn outside the NHS.
In most cases, we can help you borrow up to 5.5 times your salary. And, in certain situations, as much as 6 times your salary.
This means you can get the home you really want rather than having to make do with second best.
A lot of people who work for the NHS are foreign nationals who don’t yet have indefinite leave to remain in the UK.
Traditional lenders will often turn you down for a mortgage if you don’t have indefinite leave to remain or are not a UK citizen.
But through the specialist NHS lenders that we are partnered with, we can get you a mortgage as a foreign national so long as you have a 10% deposit and have been in the UK for at least one year.
If you go to your local bank you could be waiting weeks to get an appointment and, when you do get one, it could be at a time when you’re not available.
Here at Mortgage Broker Services, we know that most NHS staff don’t work regular Monday to Friday nine to five hours. And so neither do we!
We offer a choice of daytime or evening appointments every day of the week (including Sundays). So you can be sure that, however complicated your shift patterns might be, we’ll be able to find a convenient time to discuss your mortgage requirements and find you the right deal.
We understand that NHS staff are busy people. So the last thing we want to do is waste any of your valuable time.
That’s why we use systems that allow us to get you a mortgage decision in principle on the same day, without needing to see stacks of paperwork. Our efficient processes and in-depth knowledge of the mortgage market mean that many of our clients get a decision in principle from a lender within 24 hours.
And the fact that we deal with doctors, nurses and other NHS staff all the time means that, unlike some other brokers, we’ll know right from the start which lender is most likely to accept you. So we won’t waste time (or damage your credit score) by submitting applications to multiple lenders in the desperate hope of finding one who’ll say yes.
We have access to over 70 different mortgage lenders offering a choice of thousands of different products.
We’ve invested in state-of-the-art software with advanced algorithms to allow us to quickly find the lenders who offer competitive NHS mortgage deals for your particular situation – even if you’ve got credit problems or have multiple income sources.
Mortgage Broker Services is a trading name of Thomas Oliver UK LLP which is an appointed representative of The Openwork Partnership, a trading style of Openwork Ltd which is authorised and regulated by the Financial Conduct Authority
The information on this website is for use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it
Your property may be repossessed if you do not keep up repayments on your mortgage.
Some buy to let mortgages are not regulated by the Financial Conduct Authority