If you are a nurse and you are trying to get a mortgage then you shouldn’t worry too much as some mortgage lenders now cater specifically for nurses.

Some mortgage lenders will consider your basic wage which is paid by the NHS as well as any overtime which you may pick up.

You may be able to get a mortgage as a nurse if you fit any of these scenarios:

  • If you are a nurse and you work overtime regularly or your shifts are random or variable in their hours then some mortgage lenders will consider your basic salary and may then consider your average monthly income from our other work-related activities before deciding on if to give you a mortgage offer.
  • If you are a Nurse on a temporary or short term contract then there are mortgage lenders that may consider you even if you have had gaps in your employment. It may be harder to find a suitable lender as mortgage lenders are wary of locums or nurses with long gaps between employment.
  • If you are self-employed and your income doesn’t reflect your true potential earnings for tax reasons then you may still be able to get a mortgage as a nurse as some mortgage lenders will take a more detailed look into your case before deciding on if to give you a mortgage offr. You may want to seek the help of a mortgage broker who could recommend suitable mortgage lenders to you as a nurse.

What sort of mortgages can nurses get?

Nurses may be able o get the below types of mortgages.

  • mortgages for NHS nurses
  • mortgages for agency nurses
  • mortgages for newly qualified nurses
  • mortgages for student nurses
  • mortgages for bank nurses

Do nurses get special mortgages?

The mortgages given by mortgage lenders to nurses aren’t necessarily special but rather the mortgage lender will consider mortgage applications by nurses in more detail due to some of their unique features before providing a nurse with a mortgage offer.

Are there home loans for nurses?

You may be able to get a home loan as a nurse based on your affordability. If this is secured lending on your current home then you should speak to a mortgage broker to see what your options are.

Can a newly qualified nurse get a mortgage?

You may be able to get a mortgage as a newly qualified nurse if you have full-time employment and you will begin getting paid soon. You should speak to a mortgage broker to see what mortgage options you have.

Can agency nurses get a mortgage?

Yes, there are mortgage lenders who may consider 100% of your agency income as a nurse when looking to provide you with a mortgage.

Government schemes for nurses

You may be able to use a government scheme to enable you to get a mortgage for a flat by reducing your total cost of purchase or by increasing your mortgage deposit.

They are:

  • Lifetime ISA- gives you a government bonus of £1,000 if you save the maximum £4,000 a year.
  • Help to buy ISA- gives a maximum bonus us £3,000 if you save the maximum allowed of £12,000. Before you get either you should consider which is better. Lifetime ISA vs Help to buy ISA.
  • Help to buy equity loan- gives you up to 40% as a 5-year interest-free equity loan. You begin to pay interest at 1.75 % after the fifth year and 1% plus RPI for every year thereafter.
  • Shared ownership- You can buy between 25% to 75% of the property initially with a shared ownership mortgage and then buy more using a staircasing mortgage.
  • Armed forces help to buy- similar to the help to buy equity loan but specific for the armed forces personnel giving them an increased chance of acceptance.
  • Rent to buy- This is the right to buy scheme on which this guide is currently discussing. A different marketing name is just used. Watch out for this when shopping to avoid missing out on eligible properties due to confusion.
  • Right to buy- allows you to buy your home at a discount price.
  • Preserved right to buy- same as above.
  • Right to acquire- same as above.

You may also be able to use a host of mortgages with the help of your family.

They are a certain type of mortgage known as a family springboard mortgage, they include mortgages from lenders such as the Barclays family springboard mortgage, the lloyds lend a hand mortgage or the post office family link mortgage.

John Bate

John has 22 years of experience in financial services. This spans across financial research, financial services (As a qualified mortgage broker and underwriter), financial trading and sales at global investment banks. While working as a publishing research analyst, he covered European bank credit and advised institutional clients on investment strategies at both JP Morgan and Societe Generale. John has passed all three levels of the CFA (Chartered Financial Analyst) programme.