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.

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.

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.
Why should I consider remortgaging?

Common reasons include reducing monthly payments, switching from a variable to a fixed rate for stability, accessing equity for home improvements, or consolidating debts. It's essential to assess your financial goals to determine if remortgaging aligns with your needs.
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.
How does my property's value affect remortgaging?

The value of your property influences the loan-to-value (LTV) ratio, which lenders use to determine available deals. A higher property value can lead to a lower LTV, potentially granting access to more favourable interest rates.
What is remortgaging?

Remortgaging involves replacing your existing mortgage with a new one, either with your current lender or a different provider. This can help you secure a better interest rate, release equity, or adjust your mortgage terms to better suit your financial situation.
When is the best time to remortgage?

Typically, it's advisable to start exploring remortgage options three to six months before your current deal expires. This allows ample time to secure a new deal and avoid reverting to your lender's standard variable rate, which is often higher.
How can More Financial assist with my remortgaging needs?

At More Financial, our experienced mortgage advisers offer personalised guidance to help you navigate the remortgaging process. We work to secure the most suitable deals tailored to your financial goals and circumstances. Contact us today to discuss your options and take the next step towards financial confidence.
What costs are associated with remortgaging?

Potential costs include early repayment charges from your current lender, exit fees, valuation fees, and arrangement fees for the new mortgage. It's crucial to factor in these expenses when calculating potential savings.
Can I remortgage if I have bad credit?

While having a poor credit history can limit your options, some lenders specialise in offering remortgage deals to individuals with less than perfect credit. Consulting with a mortgage adviser can help identify suitable options.
What is a product transfer, and how does it differ from remortgaging?

A product transfer involves switching to a new mortgage deal with your existing lender, while remortgaging typically means moving to a different lender. Both options have pros and cons, and it's advisable to compare them to determine the best fit for your circumstances.
Is it possible to release equity through remortgaging?

Yes, remortgaging can allow you to release equity from your property, providing funds for purposes like home improvements or other significant expenses. However, this increases your mortgage amount, so it's important to consider the long-term financial implications.
Can I switch from an interest-only to a repayment mortgage when remortgaging?

Yes, remortgaging provides an opportunity to change your mortgage type. Switching to a repayment mortgage can help you pay off the capital over time, reducing overall debt.
Why should I consider remortgaging?

Common reasons include reducing monthly payments, switching from a variable to a fixed rate for stability, accessing equity for home improvements, or consolidating debts. It's essential to assess your financial goals to determine if remortgaging aligns with your needs.
Can I get a buy-to-let mortgage as a first-time buyer?

Obtaining a buy-to-let mortgage as a first-time buyer can be more challenging, as lenders often prefer applicants with prior property ownership experience. However, some lenders may consider first-time buyers, though they might require a larger deposit or offer less favourable terms.
What are the tax implications of owning a buy-to-let property?

Owning a buy-to-let property has several tax implications, including: Income Tax: Rental income is subject to income tax, and you'll need to declare this on your self-assessment tax return. Stamp Duty: Purchasing an additional property attracts a higher rate of stamp duty. Capital Gains Tax: If you sell the property for a profit, you may be liable for capital gains tax. It's advisable to consult with a tax professional to understand your obligations fully.
Can I switch my residential mortgage to a buy-to-let mortgage?

Yes, if you decide to rent out your current home, you'll need to switch your residential mortgage to a buy-to-let mortgage or obtain 'consent to let' from your lender. It's important to discuss this with your lender to ensure compliance with mortgage terms and conditions.
What happens if my property is vacant and I can't find tenants?

As a landlord, you're responsible for mortgage payments regardless of whether the property is occupied. It's crucial to have a financial contingency plan to cover periods of vacancy and consider landlord insurance to protect against loss of rental income.
How is rental income assessed for a buy-to-let mortgage?

Lenders assess the potential rental income to ensure it sufficiently covers the mortgage payments. Typically, they require the rental income to be between 125% and 145% of the monthly mortgage interest payment, providing a buffer for expenses and potential void periods.
How much deposit do I need for a buy-to-let mortgage?

Lenders usually require a deposit of at least 25% of the property's value for a buy-to-let mortgage. However, some may ask for deposits as high as 40%, especially if the borrower has a limited credit history or the property is considered a higher risk.
What is a buy-to-let mortgage?

A buy-to-let mortgage is a type of loan specifically designed for individuals who wish to purchase property as an investment, intending to rent it out to tenants rather than live in it themselves. These mortgages typically require a larger deposit and may have higher interest rates compared to residential mortgages.
How can More Financial assist with my buy-to-let mortgage needs?

At More Financial, our experienced mortgage advisers offer personalised guidance to help you navigate the buy-to-let mortgage process. We work to secure the most suitable deals tailored to your investment goals and circumstances. Contact us today to discuss your options and take the next step towards successful property investment.
Are buy-to-let mortgages interest-only or repayment?

Buy-to-let mortgages are commonly offered on an interest-only basis, meaning you pay only the interest each month and repay the capital at the end of the mortgage term. This approach keeps monthly payments lower, but it's essential to have a plan for repaying the capital, such as selling the property or using other investments.
Can I live in my buy-to-let property?

No, buy-to-let mortgages are specifically for properties intended to be rented out. Living in a property financed with a buy-to-let mortgage without informing your lender breaches the terms of the loan and can lead to serious consequences.
How do I get a mortgage as a first-time buyer?

To get started, book a consultation with us to explore your deposit options and available schemes. We’ll guide you through securing an Agreement in Principle, applying for a mortgage with a suitable lender, and managing the legal and financial steps to help you purchase your first home. With years of invaluable experience and expertise in securing the best mortgages for first-time buyers, we’ll help bring your dream of owning a home within reach. Whether you’re worried about borrowing enough to afford your ideal property, or have had to reduce the size of your deposit, our expert first-time buyer mortgage advice will guide you through these challenges and get you closer to the keys to your new home.
Why choose us for UK mortgage advice?

We offer personalised guidance tailored to your needs as a first-time buyer. With access to the whole market, we compare thousands of mortgage products to find the one that suits you best. Our team of advisers and case handlers work together to ensure a smooth and stress-free experience from start to finish.
What mortgage term should I choose as a first-time buyer?

The right mortgage term depends on your financial situation and long-term goals. A longer term, like 30 years, may lower your monthly payments, while a shorter term, such as 20 years, can help you save on interest but with higher monthly costs. We can help you decide based on your budget and plans.
How much can a first-time buyer borrow?

The amount you can borrow depends on factors like your income, outgoings, deposit size, and credit history. Typically, lenders offer between 4 to 4.5 times your annual income, although up to 6 x income mortgage borrowing schemes do exist. We’ll help you find the most suitable lender and borrowing amount for your circumstances.
What’s the difference between leasehold and freehold properties?

If you buy a freehold property, you own both the property and the land it’s on. With a leasehold property, you own the property for the length of the lease but not the land, which remains owned by the freeholder. Leasehold properties may involve extra fees, such as ground rent. We can help you understand which is better suited to your needs.
What documents are required for a mortgage application?

To apply for a mortgage, you'll need proof of identity, address, income (such as payslips or tax returns), bank statements, and details of any financial commitments. We'll provide a full list and guide you through gathering the necessary paperwork. Your personal first-time buyer mortgage adviser will work closely with your case handler to liaise with your chosen lender, surveyor, and solicitor on your behalf. This collaborative approach minimises stress and saves you valuable time, leaving you free to focus on getting ready for your new home.
What if I’m a first-time buyer, but the person I’m buying with isn’t?

If one of you is a first-time buyer and the other isn’t, some schemes like the first-time buyer stamp duty exemption may not apply. However, other benefits and products designed for first-time buyers may still be available. We’ll help you explore your options.
How much deposit do I need?

Most first-time buyers will need a deposit of at least 5% of the property’s value although 0% deposit mortgage schemes do xist. A larger deposit can secure better mortgage rates. We'll help you explore options to maximise your deposit, or make the most of schemes available to first-time buyers.
What is mortgage porting, and when should I consider it?

Mortgage porting involves transferring your current mortgage to a new property. It’s a good option if you’re happy with your current deal and want to avoid early repayment charges. However, for more expensive properties, you may need to apply for additional borrowing to cover the shortfall.
What mortgage options are available for home movers?

Home movers typically have three main mortgage options: Staying with your current lender – This may seem convenient but isn’t always the most cost-effective. Exploring multiple lenders could help you find better rates. Switching to a new lender – This option allows you to access competitive deals on the market, but watch out for any early repayment charges on your existing mortgage. Porting your mortgage – You can transfer your existing mortgage to your new home, but if the new property costs more, you’ll need an additional loan to cover the difference.
How can More Financial help me with my move?

At More Financial, we take the stress out of finding the right mortgage. Whether you’re switching lenders, porting your mortgage, or exploring new options, our expert advisers provide personalised guidance to match your needs. 👉 Contact us today to learn how we can make your move seamless and hassle-free!
Is it better to switch lenders when moving home?

Switching lenders can offer more competitive rates and better terms, especially if your current lender’s deal isn’t the best on the market. However, always check for any early repayment charges on your existing mortgage before making a decision.
What should I consider when upsizing or downsizing my home?

Upsizing: Be prepared for higher monthly payments and consider how this aligns with your long-term financial goals. Downsizing: This can often simplify your finances, freeing up funds for other needs.
Access to 1000s of Mortgage Products

We search the whole market, along with our panelled exclusives, comparing thousands of mortgage rates on your behalf. By reviewing your eligibility with hundreds of lenders, we ensure we find the most suitable deal tailored to you!
Simple, Straightforward Approach

We specialise in making the mortgage process simple and straightforward. Our team will help you understand and navigate the entire home-buying journey with ease, so you can focus on the fun parts—like picking out new flooring, a comfy sofa, and the perfect spot for the TV. With years of invaluable experience and expertise in securing the best mortgages for first-time buyers, we’ll help bring your dream of owning a home within reach. Whether you’re worried about borrowing enough to afford your ideal property, or have had to reduce the size of your deposit, our expert first-time buyer mortgage advice will guide you through these challenges and get you closer to the keys to your new home.
Dedicated Case Handling Team

At More Financial, you’ll be assigned both a dedicated mortgage adviser and a case handler from your very first call. Together, they’ll provide a seamless point of contact throughout your home-buying journey, ensuring you’re never passed around between team members for updates or queries. Your personal first-time buyer mortgage adviser will work closely with your case handler to liaise with your chosen lender, surveyor, and solicitor on your behalf. This collaborative approach minimises stress and saves you valuable time, leaving you free to focus on getting ready for your new home.
Our Buyers Guarantee

At More Financial, we offer a Buyer's Guarantee to provide extra peace of mind during your home-buying journey. This ensures that if your purchase falls through for reasons outside of your control, such as the seller withdrawing or unexpected legal complications, we’ll continue to work tirelessly to secure a new property for you without charging additional fees. Our commitment is to safeguard your investment and make the process as stress-free as possible, allowing you to focus on finding the perfect home with confidence.
Appointment Times that Fit Around You

Life doesn’t always fit into a 9-to-5 schedule, and we understand how hard it can be to make appointments during standard working hours. That’s why we offer late-night appointments five days a week. We’re committed to working around your schedule, ensuring you get the support you need at a time that suits you best.