You’ve just qualified as a nurse after some intense study and are now in a position to start earning. But what about getting a mortgage as a newly qualified nurse? Is it possible, and if so what’s the best way to go about it?

The most important question you might have is whether or not newly qualified nurses can get mortgages – here’s a quick answer from one of our specialist advisers.

Newly qualified nurses can get a mortgage without a record of monthly wages. However, there are some limits on what could be offered. Some specialist lenders will offer a mortgage based on a newly qualified nurse’s circumstances, helping them to apply for a mortgage on attractive repayment terms. 

So that’s our very quick answer, but what does it actually involve and what type of mortgages for newly qualified nurses are there available today? 

Mortgages for newly qualified nurses

Over recent years the property market has changed substantially, meaning many key workers including nurses, teachers, and firefighters are increasingly getting priced out.

But that doesn’t mean it’s impossible for a newly qualified nurse to get a mortgage.

There are a number of different ways in which you could find a mortgage lender prepared to lend to you.

However, it will very much depend on what supporting evidence you can supply to the lender, your contract terms, and how much you need to borrow.

Having said that, the mortgage landscape for newly qualified nurses can be very complex and confusing, with a lot of disinformation available online.

It’s no wonder that so many newly qualified nurses don’t believe they will be able to afford to get on the property ladder.

Please, don’t let that be you – there are ways in which you can do it.

Specialist mortgage advisers for nurses

If you do want to explore your mortgage options, then it’s a good idea to work with a mortgage adviser who understands the situation you are in a newly graduated nurse.

For example, many of the advisers on our panel have experience in successfully helping newly qualified nurses get the right mortgage for them, on good terms, and preferential repayment rates.

You can find out more about how we help nurses get mortgages by clicking here.

Our advisers will work with you to create an application that considers your irregular work patterns, your ability to pay for a mortgage, your lack of long-term wages, and possibly the lack of a deposit entirely.

Once they have put together your mortgage application, they will then approach the most suitable lenders in the mortgage industry who are able to lend to newly qualified nurses.

Key worker mortgages for newly qualified nurses

One such route our advisers could explore would be a key worker mortgage.

This is a relatively new initiative that offers attractive mortgage packages to nurses based on their ability to make repayments, possibly unstable income, and expenses.

With recent media reports reporting that just 14% of UK homes are now classed as being affordable to nurses, it’s a fantastic way in which you can get your towards owning your own home.

Here is a selection of some of the available mortgage schemes our advisers could recommend and help you with.

#1: Key worker Homebuy mortgages

This approach is very similar to a traditional mortgage whereby you find a home you wish to purchase, work with an adviser, and then place your mortgage application into a suitable lender.

This scenario is based on you applying for a mortgage at 75% of the property value, but where is that remaining 25% deposit going to come from?

It’s the Homebuy mortgage which will help cover this shortfall.

Once your mortgage offer is accepted by the lender, you apply to the Homebuy mortgage scheme and if successful, that will cover the remaining 25% of the property cost.

#2: Help to buy mortgage schemes

This is a fantastic option for newly qualified nurses as it helps first-time buyers which most nurses will be.

The scheme is available when purchasing new build properties and lets you take advantage of a 95% deposit to fund the purchase plus a traditional cash deposit of 5% and a 20% equity loan.

If you cannot currently afford to buy a home as a nurse, the help to buy scheme lets key workers put up a large deposit in order to get the mortgage application accepted.

The interest on the equity loan will not start to be charged until year 6 at a rate of 1.75% (subject to annual RPI increases).

#3: Shared ownership loans

This is another more affordable option for key workers where they can buy just a part of a housing association owned property.

The proportion of the property that you purchase with your newly qualified nurse mortgage could range between 25% to 75% of the total property price – with you only making repayments on the percentage you own.

If in the future you can afford to pay more, than you can increase your mortgage and equity in the property, potentially getting to a point where you own 100% of your home outright.

#4: New buy scheme

The government have partnered up with property developers across the UK to offer a scheme where it’s possible to buy a newly built property such as a flat or house.

You can’t rent the property out, it must be your only home, and from a mortgage perspective you can typically take advantage of lower rates from lenders.

Any critically, you might only have to come up with a deposit of as little as just 5%, making this a very affordable option for newly qualified nurses.

What you should do next

Those are just four options for newly qualified nurse mortgages.

There will be other available routes too, but until you have spoken with a specialist adviser it’s impossible to say on an individual basis what the best route for you would be.

When you contact us, we will have one of our advisers assess and take on your case and come up with a suitable application plan and route that is entirely bespoke to you.

We understand that newly qualified nurses can find it harder to apply for mortgages due to a variety of reasons including:

  • Not having a deposit available to put down
  • Possibly having a poor or bad credit history
  • Only earning entry level income
  • Not having payslips going back historically
  • Possibly having a large student loan debt and overdraft

Our advisers take all of this into account and will then recommend a mortgage application based on affordability and suitability.

Your application will then be placed with a suitable lender known to work with nurses and key workers.

How quickly can a newly qualified nurse apply for a mortgage?

In the majority of cases, mortgage lenders will be looking for 3 months’ worth of payslips in order to prove evidence of income.

If you have just qualified, then we understand that won’t be possible.

It might be that you will need to wait for 3 months until such point that level of evidence can be provided.

But in some cases, our advisers can develop a mortgage application that references projected future earnings.

To support this type of application, you might also need to provide an employment contract that shows you starting date and annual salary.

Once our advisers have all this information, they can then talk with the mortgage lenders they have strong relationships with to find out whether this level of earnings evidence will be satisfactory.

To conclude, there should be no barrier for applying for a mortgage during your first few months of working as a newly qualified nurse.


If you want to get started and would like our advisers to explore the mortgage options available to you then please contact us today.

Our specialists have access to a wide range of mortgage lenders who are prepared to consider applications from new nurses, despite basis salary constraints.

You might have been told that you can’t get a mortgage, but until you’ve spoken with our team please don’t take that as fact.

There are multiple options available to you.