As an agency or bank nurse, you may have concerns over finding a suitable mortgage lender prepared to lend against your unique job role, due to the way in which your income is recorded.
Bank nurses and agency nurses can get mortgages but might struggle to be accepted by some high street lenders. We advise working with an adviser who understands the complexities of bank and agency nurse pay, to find a mortgage lender that is comfortable lending to specialist nurses.
Why bank nurses find it hard to get mortgages
We deal with many enquiries from agency and bank nurses who are looking to apply for a mortgage but are unsure as to whether it’s possible.
You could be in the position where you have a healthy deposit, regular and stable income, and proof of earnings historically, but still get refused by the traditional mortgage lenders.
It’s frustrating, and not at all uncommon.
But why is this a problem?
In simple terms, bank nursing will often be seen by mortgage lenders as being similar to zero hours contract work – whereby it doesn’t appear to be guaranteed income.
Because of this, some lenders view this type of employment as a risk. In reality you know that bank nursing offers a secure and flexible way of working and we have lenders that understand this.
It is very much possible to get a mortgage as a bank or agency nurse, and our advisers will help allay any concerns you might have about the way in which your pay is structured.
Our specialist mortgage advisers will help you apply to the lenders that best understand bank and agency nurse work.
Providing you can show consistency of earnings, structure your application and proof of income correctly, and apply to the right lender, there’s no reason why you can’t be successful.
The best way to do this is to work with a specialist, and that’s exactly who we have on our large panel of mortgage advisers.
To get started, contact us today for a no-obligation discussion on how we can match you up with the best adviser to suit your personal situation.
What you will need to do
In order to be successful in getting a mortgage as a bank nurse, there are some things that we advise you do.
- You might need a larger deposit than normal; however, this isn’t always the case
- You will need your last 3 months’ worth of payslips as proof of income
- You will need bank statements to back up your proof of income
- You will need to produce an up to date credit report
- You might need your last year’s SA302 document
- You should document any secondary income sources comprehensively.
In addition to these aspects, you might find that you have a high pension contribution. This is very common with agency nurses and can sometimes affect your borrowing potential with lenders.
Regardless of your situation, it’s important to work with a specialist mortgage adviser who understands nurse mortgages.
We have a large panel of experienced advisers who can help and support you in putting together an application that ticks all the right boxes for a bank nurse.
That application will then be presented to the mortgage lenders most likely to lend to a bank or agency nurse in the UK.
Start your application today
To find out more, contact us now to speak with a friendly member of our team.
They will ask you a few questions, and then if you do wish to benefit from the support of one of our advisers, they will help you with the application process.