Getting on the property ladder as a nurse can feel daunting, but you're in a stronger position than you might think. Here's what you need to know about securing a mortgage as a nurse.
Understanding your borrowing potential
Newly qualified nurses typically start on Band 5 at £31,048 annually, rising to £37,796 with experience. Most lenders offer between 4 and 4.5 times your annual salary, though some specialist lenders provide up to 5.5 times for key workers. This means a Band 5 nurse could potentially borrow £140,000 to £170,000, depending on the lender and your individual circumstances.
Making your additional income count
Lenders usually ask for three to six months of payslips to check your income is regular. If you work consistent night shifts, weekends, or bank hours, specialist lenders might count half or even all of these earnings when they work out how much you can borrow. What matters most is showing you earn this extra money regularly. Having a year's worth of overtime or bank work on your payslips makes your application much stronger.
Agency nurses working through NHS Professionals or other agencies can sometimes have all their agency income counted, as long as they can prove steady earnings over a year or more. Public Sector Mortgages knows lenders who get how nursing income works and can show them the full picture of what you earn.
Navigating short contracts and employment gaps
Permanent NHS contracts are viewed favourably, but nurses on fixed-term contracts or combining NHS and private work can also secure competitive mortgages. Specialist brokers work with lenders who assess your overall employment pattern rather than focusing solely on continuous service, understanding that gaps between contracts are normal in nursing.
Newly qualified nurses can apply based on a signed contract, sometimes before starting work. Some lenders accept applications up to three to five months before your start date, requiring three months of payslips once you begin. Overtime and bank work typically need six to twelve months' evidence to demonstrate consistency.
Accessing key worker schemes
Key workers like nurses get priority access to schemes like the First Homes scheme. This government programme offers 30% to 50% discounts on new-build properties for first-time buyers. Key workers often get priority during the initial sales period. To qualify, you must earn less than £80,000 annually (£90,000 in London), with properties capped at £250,000 after discount (£420,000 in London). Your key worker status can improve your chances of securing these discounted homes.
Getting started
Before applying, gather six months of payslips showing your full income, including overtime or bank work. Check your credit score and fix any issues early. A broker who understands nursing income can present your application effectively to lenders specialising in key worker mortgages.
Our experienced advisers at Public Sector Mortgages can help you navigate the complexities of nursing income and connect you with lenders who recognise your full earning potential.
