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Mortgage Broker FAQs

• Do NHS workers get special mortgages?

  Not quite. While there’s no specific “mortgages for NHS workers,” some lenders offer discounts, lower rates, or higher borrowing limits for NHS staff. Additionally, your stable employment and job security may be seen favorably by lenders.

  Your GHL Direct mortgage advisor has experience in placing NHS staff with the right lenders. We partner with over 50 of the UKs top mortgage lenders and work with them daily.

• How much can I borrow as an NHS worker?

  Like anyone looking to buy a home, remortgage or invest in a buy to let mortgage, your maximum loan amount depends on your income, expenses, credit score, and deposit.

  However, some lenders may offer higher loan-to-income ratios (LTV) for NHS staff, allowing you to borrow up to 5.5x or even 6.5x your salary compared to the typical 3x to 5x.

• What mortgage types are available to NHS workers?

  You have access to the same range of mortgages as other borrowers, including fixed-rate, variable-rate, tracker, and offset mortgages. We can help you choose the type that best suits your financial goals and risk tolerance.

• What questions should I ask my mortgage advisor?

  Here are some questions you can ask your mortgage adviser:

  – How much can I borrow?
  – What type of mortgage is best for me?
  – What are the interest rates and fees?
  – What are the monthly repayments?
  – What happens if I can’t afford to make my repayments?
  – What are the pros and cons of different mortgage products?

• What are the different types of NHS mortgages?

  There are a number of different types of mortgages available, including:

  Fixed-rate mortgages: With a fixed-rate mortgage, your interest rate will stay the same for the entire term of the mortgage. This can provide peace of mind, as you know exactly what your monthly payments will be. However, if interest rates rise, you will not benefit from the lower rates.

  Variable-rate mortgages: With a variable-rate mortgage, your interest rate will fluctuate based on the Bank of England base rate. This means that your monthly payments may go up or down, depending on the market. However, if interest rates fall, you will benefit from the lower rates.

  Tracker mortgages: A tracker mortgage is a type of variable-rate mortgage that tracks the Bank of England base rate. This means that your interest rate will always be a certain percentage above the base rate.

  Discounted mortgages: A discounted mortgage is a type of variable-rate mortgage that is offered at a discount to the lender’s standard variable rate (SVR). This means that your interest rate will be lower than the SVR, but it may still fluctuate.

  First time buyer scheme:  Help to Buy: Equity Loan | Shared ownership | The Mortgage Guarantee Scheme

• How much does a mortgage advisor charge?

  We provide no obligation, fee free mortgage advice for NHS workers*. From the initial mortgage application to completion, we’ll work around your busy schedule to make it as stress free as possible. Whatever your shift pattern, be it days, nights or even weekends, we’ll find a way to be help you find a mortgage.

  * For Buy To Let Mortgages a broker fee may be charged depending on the complexity of your requirements. We will outline any fees during our chat.