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NHS Worker Mortgage Solutions!

Calling all heroes of the National Health Service! At More Financial, we recognise the tremendous dedication and service that NHS workers provide to our communities. We understand that finding the right mortgage as an NHS employee can be a daunting task, but fear not! We are here to guide you through the process and help you secure the home of your dreams.

Why Choose More Financial for Your NHS Worker Mortgage? As a leading mortgage provider, we specialise in catering to the unique needs of NHS workers. We have a deep understanding of the challenges you face and the importance of flexible mortgage options that align with your career and lifestyle. With our expertise and dedication, we strive to make your mortgage journey a breeze, allowing you to focus on what matters most—providing exceptional care to patients.

At More Financial, we offer a range of exciting mortgage solutions designed specifically for NHS employees. Whether you're a doctor, nurse, paramedic, or any other healthcare professional, we have you covered. Our team of experts will work closely with you to understand your individual circumstances and tailor a mortgage package that suits your needs perfectly.

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Flexible Deposit Options: Saving for a large deposit can be challenging, especially with the demands of your NHS career. That's why we offer flexible deposit options, allowing you to secure a mortgage with a deposit that suits your financial situation.

Competitive Interest Rates: As an NHS worker, you deserve the best. We offer competitive interest rates on our mortgage products, ensuring that you can enjoy affordable monthly repayments and make the most of your hard-earned income.

Specialised Lenders: We have established strong relationships with lenders who specialise in providing mortgages to NHS workers. These lenders understand the unique nature of your employment and offer favourable terms and conditions tailored to your needs.

Fast and Efficient Process: We value your time and strive to make the mortgage process as smooth and efficient as possible. We work diligently to ensure your application is processed quickly, allowing you to move into your new home without delay.

Expert Advice and Support: Our experienced mortgage advisor Peterborough is here to guide you every step of the way. We'll provide expert advice, answer your questions, and address any concerns you may have. We are committed to ensuring that you have a clear understanding of your options and feel confident in your mortgage decision.

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Additional Benefits for NHS Workers At MoreFinancial, we believe in going the extra mile for our NHS heroes. In addition to our tailored mortgage solutions, we offer exclusive benefits and support to make your homebuying experience even more rewarding:

  • Fast-Track Application Process: We recognise the demands of your profession and aim to make the mortgage application process as efficient as possible. With our fast-track application process, you can expect quick responses and streamlined procedures.

  • Discounted mortgage fees. As a thank you we will endeavour to broker application for fee. If your case is considered specialist a fee will be payable, however we have reduced our tariff of charges for all NHS workers.

  • Exclusive Deals and Discounts: As an NHS worker, you may be eligible for exclusive mortgage deals and discounts. Our team will ensure that you are aware of any special offers available to you, helping you secure the most advantageous terms.

NHS Discount Mortgage
  • What Types Of NHS Mortgages Are Available?
    There isn’t a specific product called an NHS Mortgage, as mentioned earlier. However, there are specialist lenders who offer products with lower interest rates. Speaking to a mortgage broker can help you identify these lenders and the product most suited to your personal circumstances. Additionally, you can also apply for different kinds of mortgage offers, such as joint mortgages, where you can buy a home with a partner, relative, or friend. Alternatively, you can also apply to be part of a scheme for affordable housing. It would be best to consult with a broker or a credit expert to guide you with relevant information that you might need.
  • What Is An NHS Mortgage?
    There isn’t a specific product called an ‘NHS Mortgage’, so if you start your search that way, you might end up hitting a wall. However, having an NHS mortgage simply means that brokers can provide you, an NHS worker with tailor-made mortgage solutions. Some lenders also offer lower interest rates that are aimed at people working in this line of work.
  • How Much Can NHS Staff Borrow?
    An NHS mortgage is just like any other mortgage, and it would help if you showed that you could pay back your loan within a stipulated amount of time. Therefore, your creditor might want to assess you, your credit history, your monthly expenses, age, income level, and which NHS pay bandwidth you’re on. For example, if you earn about £31,000 annually, then the amount you could borrow will range from £95,000 to £143,000. However, what you end up paying every month will largely depend on the duration and interest rate.
  • Do NHS Workers Get Discounts On Mortgages?
    We at More Financial do offer a discount of 10% for all Key workers. If you are or have been an NHS worker, some creditors might give you mortgage offers at a discounted rate. If you decide instead to apply for the affordable housing scheme, some of the benefits include buying a property with a reduced deposit.
  • Is There an NHS Key Worker Mortgage Scheme?
    Key workers refer to the category of government agency employees: the police, NHS, the Armed Forces, state education services, firefighters, and local authorities, among many others. The UK Government launched the Key Workers Living Scheme in 2001 to help its workers purchase or rent homes at affordable prices. The scheme ended in 2019 and has since been replaced with other ones like the Help to Buy, First Homes, and Right to Buy plans.
  • Who Is Eligible For An NHS Mortgage?
    If you want to qualify for an NHS mortgage scheme, you must be employed on a full-time or permanent contract as a staff member of the following NHS components: Primary Care Trust GP Surgeries NHS Direct Ambulance Trust National Blood Transfusion Service Health Protection Agency NHS Identified Dental Practices Mental Healthcare and Social Care Trusts Other NHS Trusts (currently about 217 trusts)
  • What should come first – the property or the mortgage?
    Having and agreement in principle before you seek out properties is quite important. This shows a seller that you are in a position to secure funding from a bank or building society based on your credit profile and affordability results.
  • What is a mortgage?
    A mortgage is essentially a large loan. Interest rates are typically lower than that of an unsecured personal loan as they are secured by your property. This means if you didn't keep up with your mortgage payments they could take possession of the property and would be within their rights to sell it in order to recoup their money.
  • How much can I afford on a mortgage?
    Each bank and building society have a different method to calculate how much you can borrow with some being much more generous than others. As a rough rule of thumb you can borrow around 4.5 x the household income which sometimes include benefits. Household debt and commitments can reduce this multiple. Make an appointment with an adviser and you'll get some accurate figures or check out our interactive tool to get an idea.
  • What happens after we put in an offer?
    A good estate agent will gather as much information as possible so they can present your situation along with the offer to their vendor so that they can make a decision. The estate agent may also contact your broker to gather further information, so having a responsive mortgage firm can be key.
  • Will I need a deposit
    It can be very difficult for first-time buyers to get a decent deposit together. Some lenders will currently accept a 5% deposit, but it is more likely that they will require 10% or even 15%. What’s more, a smaller deposit means that you will have to meet strict criteria and will likely be met with higher rates. As a mortgage broker that compares products from across the market, and not just high street lenders and banks, we can help ensure that you get the best deal on your first mortgage. Strictly speaking, 100% mortgages no longer exist. However. some lenders will allow you to borrow some or all all of deposit via a personal loan. If you have the income to repay a loan and a mortgage, but do not have any money for a deposit, contact one of our advisors today to see if we can help.
  • How much are solicitors fees for buying a house?
    Prices vary wildly. We recommend you should budget for around £1500. At this price you should expect a great service as well as not being too overcharged. We have solicitors available that provide a great service for less than this amount so if you need us to arrange contact, simply get in touch.
  • What is an agreement in principle?
    This is a document produced by a bank or building society to show they have performed a credit check on the applicant, and that based on the income and expenditure details they can borrow up to a (usually specified) amount.
  • Will I be able to get a mortgage?
    Assuming that you receive an income and do not have any missed payments or defaults against your name, you should be able to get a mortgage with many of the long list of lenders. Every application, however, is assessed individually. When making an application, a lender will look at your employment history and whether you can afford the repayments. They will also consider personal details such as age and credit score, as well as details of the property and mortgage. Every lender has different criteria, too, and will use their own credit scoring system. While credit scoring systems can be complex, this also means that even if you have been turned down for one mortgage, you can apply with a different lender and potentially see a different result. Even the passage of time can improve your chances. Lenders change their own scoring system according to a number of factors, but primarily according to the amount of money they have to lend at the time. More Financial can help you determine which lenders may be suitable for your current situation.
  • Where should I arrange my mortgage
    Banks and building societies tend to be the first port of call for people looking for a mortgage. However, the majority of UK mortgages are now arranged by brokers. This because, while it’s true that most high street banks do offer mortgages, there are lots of lenders, each offering their own specific range of products. It would be a huge coincidence if the first bank visited happened to be the best suited, as your situation may be better suited to one of the thousands of other options a More Financial broker can source.
  • Can we negotiate from the asking price?
    In short yes you can. However, there are many reasons when, why and how much you may be able to negotiate. Get in touch so we can break down the intricacies of making an informed initial offer, with a strategy for increasing where necessary.
  • How long does it take to buy a house?
    Industry average is around 3 months, however, in complex situations, when the market is extremely busy, or extremely restricted such as the times surrounding COVID, this can take longer.
  • How to get a mortgage?
    It all starts with a free mortgage appointment. Here you will receive mortgage advice, affordability results, credit repair strategies or if you are ready, an agreement in principle which is the prerequisite to getting a mortgage. Armed with an agreement in principle you are ready to start house hunting and making offers. Once an offer is accepted we can submit a full mortgage application. As long as there are no major changes in circumstances at this point and the bank agrees the property is a good purchase, they will offer you a mortgage. Why not get in touch by completing the contact form at the bottom of this page.
  • How much will my repayments be?
    Your monthly repayments will vary according to the total amount you borrow, the term of your mortgage, fees accrued, and the interest rate. 25-year mortgages used to be considered standard, and while this term does remain popular, it is possible to borrow over a longer or shorter period, which will increase or decrease your repayments. More Financial can help find the ideal mortgage product for your circumstances. Speak to one of our specialist advisors today and find out what is on the market that could benefit you in the hunt for your first home.

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