Expert Mortgage Advice for Nurses & NHS Professionals
You care for the nation; let us help you find a home. Navigating NHS payslips, shift allowances, and agency contracts is our specialty. Get the mortgage your hard work deserves.
Why Choose Evergreen for Nurse Mortgages?
START BY Watching my mortgages for nurses video
As a nurse or medical professional, you've often dedicated years to studying and then caring for your patients. Now, it's time to apply that same level of care to securing your ideal home.
At Evergreen Mortgages, we understand the unique financial landscape Nurses navigate and are here to guide you through the process of obtaining a mortgage to help you secure a safe space for you and your family
PROBLEMS Nurses COME UP AGAINST
Nurses and NHS staff usually come up against the follow hurdles when trying to get mortgage:
Complex Income Structures: Your pay slips can prove a challenge to understand for lenders, with lots of different elements such as shift, overtime, London weighting, and other elements, which some advisers struggle to assess accurately
Recently Qualified: If you're just starting your career or have just come out of studying, you may face difficulties proving any employment history or long-term income stability.
Bank staff: Misinterpreted as zero hours, bank work may be providing a lucrative second income stream to top up your salary. This can be included in the mortgage affordability at 100% of the pay amount with some lenders if you know the right ones to speak to, rather than ignored and not included at all.
Self-Employment Complexities: For Agency nurses or those in private practice, being paid via an umbrella company, demonstrating a consistent income can be challenging, especially with less than 1 years experience.
Visa’s: Many of our NHS staff and nurses have travelled here on the health and social care visa, and this visa status can prove a challenge when trying to buy a home here in the UK.
Does this sound familiar?
Mortgages for NHS Band 5 to Band 8 Staff
Enhanced Borrowing Power: Many lenders offer increased income multiples for NHS professionals, potentially allowing you to borrow up to 5.5 or even 6 times your annual income.
Future Income Consideration: For newly qualified nurses and NHS staff, we can connect you with lenders who factor in your projected career earnings, enhancing your borrowing capacity.
Flexible Income Assessment: We work with lenders who understand the nuances of bank work, London weighting, and variable shifts, ensuring a fair evaluation of your true earning potential.
Specialised Self-Employed Solutions: For those working through umbrella companies and agencies, we can find lenders willing to consider applications with just one year of industry experience, recognizing the importance of your profession.
Visa’s: Whilst lenders do require some track record of residency in the UK, there are lenders that can consider applicants with a visa, with a smaller deposit than you may have been told by other advisers, for the right applicants as little as 5% of the purchase price. You can also buy with up to 4 people on a mortgage, so rather than paying rent to a landlord on a house share, you could pool resources and own an asset in the UK.
How Evergreen Mortgages Supports NHS Staff
We don't just look at your basic salary; we look at the whole picture of your contribution to the NHS. Our process is designed to find the lenders who value your profession.
Mortgages for Agency & Bank Nurses
One of the biggest hurdles for nursing staff is finding a lender that accepts 100% of "Bank" or "Agency" income. While many high-street banks see this as "unstable," we work with specialist lenders who view your additional shifts as a consistent part of your professional earnings.
Navigating the 'Agenda for Change' Pay Scales
Whether you are a newly qualified Band 5 or a Senior Manager on Band 8, we ensure your specific banding and future increments are used to your advantage during the application process.
Take the next steps
Working with the right team on your side is essential – just as it is in your day to day role.
Take the first step towards your dream home today. At Evergreen Mortgages, we're committed to finding the perfect mortgage solution that honours your professional status and financial goals.
Contact us now for a personalised consultation and let our expertise in mortgages for nurses work for you. Your success in the the medical profession deserves an equally impressive home – let's make it happen together.
As a nurse You probably have lots of questions?
Do you know you’re ready but have no idea where to start ?
I’ve helped many people put the steps in motion to get them through their own front door, to break away from renting or living with friends and family and to have their own sanctuary where they can live and do as they please.
Can I get a mortgage as an Agency Nurse?
Yes. While some lenders require two years of history, we have access to specialist lenders who can consider agency nurses with as little as 12 months’ continuous employment, provided there is a clear track record in the profession.
Do lenders count my "Bank" shifts?
Absolutely. If you have a consistent history of bank work alongside your substantive post, we can help you find a lender that averages this income to boost your borrowing power.
Are there still "Key Worker" mortgage schemes?
While the original Key Worker Living scheme has ended, nurses are often prioritised for First Homes schemes and Shared Ownership opportunities. We can guide you through the local authority requirements for these.
WHAT ARE THE NEXT STEPS?
Step 1 - Check your credit score
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Hopefully there are no surprises in store here, but whatever you find, with our experience and understanding, Evergreen Mortgages can help you to know how to move forwards. Lenders can be more lenient than you might think, so it’s very important to get in touch!
You can send us a copy of the report so we can help you to review any concerns you have.
Step 2 - Be clear what you earn
Lenders use your pretax income to check affordability – this is your annual salary before your tax and national insurance deductions and not necessarily the figure on your P60.
Overtime, bonus and allowances can be included, but it’s important to provide a clear breakdown on your basic and these separate parts of your income. Lenders allow different percentages of these types of income to be used, based on whether they are guaranteed or variable.
Send us your payslips and we can help you to calculate this out. If you’re self-employed don’t forget to check our self-employed information here.
If you’re self-employed don’t forget to check our self-employed information here.
If you are on a more complex financial agreement a copy of your contract could help us to confirm the way in which mortgage lenders will view your income and affordability.
Step 3 - Make a list of all your current outgoings
This could be student loan payments, car payments, loans, credit cards, mail orders or your mobile bill etc.
Consider your new expected bills: house, insurance and personal insurance, gas and electric, council tax, water, Internet connection, your food bills etc.
Finally, consider what you feel you can comfortably afford per month to pay towards your mortgage. Lenders assess affordability differently to this, but it’s very important that you feel comfortable with your new payments moving forward.
Step 4 - Deposit plus additional amounts
You need a minimum of 5% of the property value that you wish to buy as a deposit plus additional amounts to cover your fees such as your solicitor costs, any stamp duty fees, advisory fees, product fees, and valuations. To help get a clear breakdown of the costs involved and the deposit you need, please call.
If deposit is an issue for you given the study period, and starting salaries comparably to what you could be earning in the next 5 years, you could consider something like the shared ownership scheme, where instead of simply renting you can but a portion of the home and then as your salary increases, you amend the mortgage to a larger borrowing amount to buy the rest of the property. London in particular has many new and second hand properties on the scheme, and in some very exclusive areas of the capital.
Step 5 - Look for properties
Look online or with your local estate agents at properties in your area and the surrounding areas to give yourself an idea of the property values, so you know what homes are worth.
What happens when I call?
Your initial conversation will normally take between 15 and 30 minutes, depending on how many questions you have about the process. We will run through a quick understanding of the five points above to give us an idea of how we can help you, and discuss the next steps with you. This includes what you may need to send, based on the information you give to us.
What documents do I need?
Generally, the documents that are needed are: proof of ID, proof of address, three months payslips and three months bank statements. For a full list and understanding click here for a more detailed breakdown. The documents you need to provide ultimately will depend on your personal circumstances.
case studies
Mr & Mrs S
Mr and Mrs S had been trying to get on the ladder and into their first home for over 5 years. They both worked in the NHS, supporting and caring for people and had good careers, but supporting their wider family meant they had also had to take on some personal loans and debts that was impacting their affordability.
They were worried they wouldn’t be able to borrow enough to stay in the area that the family was settled. They were in a constant struggle trying to decide if they should save for a deposit or use their savings to clear the debts down quicker and all the while, paying huge rents to the landlord that were only going up!
After taking the time to fully review their situation we were able to target the specific debts to reduce and clear, whilst still allowing them to hold on to enough deposit funds to buy their first home.
Sometimes the solution takes some real number crunching, but the important part at the end of the paperwork and the figures, is that they have their keys and are now proud homeowners.
Common Questions About NHS & Nurse Mortgages
What are the next steps after your initial call?
After any documents requested have been sent we should be able to provide you with a fully-costed mortgage recommendation. We will discuss this with you to make sure you understand and are clear on the costs and are happy with these. Provided you are happy to proceed, we will then approach lenders for your initial agreement in principle. This consists of a credit check.
When can I put in an offer on a house?
Once you have a clear idea on your budget, have been agreed in principle by a lender for the mortgage amount needed, and you have the savings ready for the deposit. If you have these 3 things, you’re now in a strong position to put in an offer on a house. This is normally done via the estate agent, however, in Scotland the system is different and you put your offer in via your solicitor.
What’s the difference between an AIP, DIP and a mortgage offer?
An AIP or DIP means the same thing. This is your initial agreement or decision in principle from the lender. This is where they check the information provided by yourself, along with your credit score to see if they can offer the mortgage that you would require.
The full mortgage offer is provided only after they have assessed all of your documentation and viewed the property that you wish to buy. This means that in order to do the full application and receive your mortgage offer, you must have had an offer accepted on a home and have a property that you wish to buy, to move onto this next stage. Once your binding mortgage offer is issued, the process is handed over to the solicitors to organise exchange and completion dates.
How long does a mortgage offer last?
You should see the expiry date on your mortgage offer once it is issued. It varies from lender to lender, but it tends to be between three and six months. If you are buying a new build property some lenders provide an extended mortgage offer expiry date of up to 1 year. Lenders can potentially extend your mortgage offer if it becomes close to expiry, but this is case specific and lender specific, so to get in touch with us if you’re concerned about the need for an extension.
How long does it take to buy a home?
This depends on a number of things but often the chain is a big decider. The mortgage offer would normally take between two and six weeks depending on if your case is straightforward, or if you need a specialist lender. Getting a mortgage offer is only part of the process. The solicitors also have a fair amount of work to complete and you may find the person you’re buying a home from is waiting on their new home they wish to buy. Generally we see new home purchases take between three and six months to complete. It can be considerably shorter or longer if it’s a new build property, depending on what stage of build the development is at and when they are ready to hand over the property.
After the mortgage offer is issued what happens?
Lenders can still recheck your credit or income so it’s very important that you maintain your financial position. Do not be tempted with by now pay later, sofas or kitchen finance. Make sure that you have fully completed on your purchase and have the keys in hand before you make any changes to your financial position. This includes accepting new jobs or changing your car. Get in touch directly with your advisor before making any decisions of this nature whilst you wait for a mortgage offer to be issued or to complete on your new home.
To get a clear idea of the mortgage journey and the route to your new home click here to see our mortgage journey page.
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MORTGAGE ADVISeR in essex
Evergeen Mortgages is based in Upminster, Essex and provides mortgage advice.
We provide expert mortgage advice across Essex, including Brentwood, Shenfield, Billericay, Basildon, Chelmsford, Canvey Island, Colchester, Dagenham, Epping, Hornchurch, Ilford, Ingatestone, Maldon, Romford, Southend, Upminster and Wickford.
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Evergreen Mortgages, 9 Stanley Road, Bulphan, Upminster, Essex, RM14 3RX
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LEGAL INFORMATION
Typically, a fee no greater than £995 is charged for mortgage advice on receipt of a mortgage offer or on successful completion. This would be confirmed in writing once a brief outline of your borrowing requirements have been established. Many of our competitors charge upfront fees for advising and processing applications, regardless of the outcome, whereas our fee is only ever payable on receipt of a mortgage offer or on completion.
Evergreen Mortgages is a trading name of AGA Mortgages who is an appointed representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 respect of mortgage, insurance and consumer credit mediation activities only.
We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service.
Please note that most buy to let and commercial loans are not regulated by the FCA and neither is some bridging finance. We shall advise if your specific finance requirement is classed as a regulated activity and therefore covered by the FCA.