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Police mortgages

Police officers could access better mortgage deals by finding a special police mortgage.


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Almost 150,000 full-time police officers are working across the UK, and each one of them could potentially get a better mortgage deal by locating a suitable police mortgage. Even some part-time workers in the force could benefit. Finding these exclusive deals isn’t always easy, which is why you may need the professional support of a police mortgage broker.

You may not have heard of a police officer mortgage before, and we’ll explain why that is at the beginning of this guide. We’ll also answer some of the most asked questions about police service mortgages and discuss related topics you’ll want to know.

In this police mortgage guide, we’ll address:

  • Police officer mortgage FAQs
  • Common mortgage headaches for police workers
  • A short guide for FTBs in the police force
  • Where you can get additional information
  • The benefits of using getting tailored police mortgage advice

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What mortgages are available to people in the police force?

Police officers can search from scores of mortgages on the standard mortgage market. These home loans come from household-name banks, online banks and building societies. There are different types of mortgages to choose from based on how interest is calculated and other terms and conditions.

A limited number of products in the mortgage market can exclusively benefit people serving in the police force. The lender may offer exclusive benefits to police officers or other staff members in the force. When this is the case, the mortgage is known as a police mortgage or police officer mortgage.

Image showing the back of two police officers walking amongst crowds of people

Can police officers get mortgage discounts?

It’s certainly possible to get a mortgage discount if you’re employed as a police officer or if you work for the police force in another role.

Not all police mortgages just offer reduced interest rates; some police mortgages could benefit the home buyer in another way. For example, there could be a police force mortgage that provides cashback or money to help with conveyancing costs or building inspections before settlement.

It’s impossible to be certain about the benefits of a police mortgage as these products are subject to change. To learn what discounts or benefits are currently on the market, you should contact a specialising police mortgage broker.

Who qualifies for typical police force mortgage discounts?

Who does and doesn’t qualify for a police force mortgage discount is at the discretion of the lender. Some lenders may exclude some job roles, whereas others may not. This is subject to change, so it’s best to discuss the police mortgage discounts available to you with your adviser at the time of application.

You could qualify for a police mortgage if you work as:

  1. A police officer
  2. A Police Community Support Officer (PCSO)
  3. A constable, detective or a higher-ranking officer
  4. Police station administration worker
  5. Specialist police roles, such as domestic violence liaison officer, etc.

Note, some mortgage products will be marketed as “police officer mortgages” but also welcome other professions within the police force to apply.

How much could a member of the police force borrow?

Key workers can sometimes borrow as much as 6 times their annual income. However, borrowing capacity is greatly dependent on personal financial circumstances, including income, lifestyle expenses and existing debt – including student loans.

The only way to know how much you can borrow as a member of the police force is to speak with a mortgage broker or discuss this with mortgage providers directly.

What mortgage schemes are available to the police?

There isn’t currently a mortgage scheme specifically designed to help police officers or key workers. Although this could change in the future as there is one to help people in the Armed Forces buy their first home.

Despite this, there are still many standard mortgage schemes that police staff could qualify for and take advantage of, including:

  1. Help to Buy
  2. Shared Ownership
  3. Right to Buy

The UK Government explains each of these schemes in detail on their website. Alternatively, contact a Public Sector Mortgage adviser who will be happy to discuss your options. 

Mortgage issues you could face in the police

There could be aspects of working in the police force that make your mortgage application more challenging. The range of potential issues is vast and greatly depends on individual circumstances.

Two of the most common challenges facing police workers when seeking a mortgage are income complexity due to shift work and overtime, as well as probation periods. We discuss each in turn below.

Overtime and income complexity

Police officers work a staggering amount of overtime each year compared to other professions. In recent years, the BBC reported that officers work an average of 97 hours of overtime per year. Overtime work in the force can contribute a sizeable amount of annual income, but not all mortgage lenders recognise any income beyond the officer’s basic salary.

When a lender refuses to recognise overtime payments, police officers can be unfairly seen to have a smaller income and therefore less borrowing power, even when they frequently complete overtime. However, some lenders will include overtime income to help you borrow more. If you frequently do overtime work, your police mortgage broker can help you identify the most suitable lenders to boost your borrowing capacity.

Probation or training periods

Another common challenge is police workers trying to get a mortgage while still within their probation or training periods. At this stage, their contract status is dependent on performance, which can be a worry to some police mortgage lenders. Again, the good news is there are still lenders who won’t consider this within the application, or it can be overcome with supporting documents. If you’re still in training, you can discuss your options with our mortgage advisers.
 

Image showing two small children kids looking at a toy police car that one of them is holding up

Police mortgage how-to guide

The three sections below outline some key steps when aiming to get a police officer mortgage. The information below is especially useful to first-home buyers and to people who haven’t bought a property for some time.

Improve your chances of a police mortgage

There could be ways of improving your chances of securing a police officer mortgage. You could be advised to improve your credit score or reduce your debt. But specifically for a police officer mortgage benefit, you might be advised to wait for a training or probation period to end before applying. Everyone’s situation is different, and the best advice should be personalised to your situation.

How to find the right police mortgage

Secure the right police mortgage by searching the mortgage market. You will need to carefully check the eligibility requirements on police mortgages. Remember that not all job roles within the force could qualify for a police mortgage, so you need to check the fine print with each potential lender. You don’t want to apply for a police mortgage to later find out that you don’t qualify for a reduced interest rate – or similar. Of course, this is made easier when using a mortgage broker who will do this on your behalf.

Applying for a police mortgage pre-approval

Once you’ve found the right police mortgage for your needs, you will need to make an application. It’s strongly recommended to get your broker to apply for pre-approval. This is a decision in principle should you decide to make an offer on a property, and it helps you set your budget for your property search. Gathering the right documents and proof for the pre-approval application can be confusing, but a professional adviser will make it clearer and easier.

Additional resources for the police

The process of buying a home can be exciting. But when it comes to mortgages and solicitors, it can also be daunting, especially if it’s going to be your first property purchase.

You can get easy-to-read information on the processes involved by visiting the Money Helper website. This is a website backed by the UK Government and a trusted source of information for UK residents.

You can also find details about the mortgage schemes that could be used by police officers by following the links below:

Image showing a close up of some police tape with three police officers in the background

The benefits of using a police mortgage broker

It’s possible to search the mortgage market independently to find the best deals available to police force workers. However, there are potential benefits of offloading this process to an experienced mortgage broker who frequently works for clients in the force.

Some of the core benefits of using a police mortgage adviser are:

  1. These advisers are already aware of potential mortgage challenges facing police force workers
  2. Thus, they will already know how to approach and overcome these challenges, or which lenders are more flexible with your situation
  3. These advisers are familiar with the most recent mortgage market and will know where to find police mortgages with exclusive interest discounts or other benefits 
  4. They will take over the application process on your behalf, making sure any issues are dealt with early
  5. Their work can save you hours of market research 
  6. There is genuine potential to secure a better mortgage deal compared to not using a mortgage broker

Speak with a police mortgage broker now!

Don’t delay your mortgage search or you could miss out on a limited police mortgage deal.

Public Sector Mortgages is an accredited and experienced broker for the most valued workers in society. Speak with one of our police mortgage brokers today and start the process with confidence.

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