Public sector mortgages

Working in the public sector certainly isn’t for fame or money – jobs often aren’t as well-paid as you might get in the private sector.

However, there is usually more job security and regular income.

Sometimes it isn’t easy to secure the mortgage you want if you work in the public sector because of the limits on earning potential.

It’s important to be realistic about how much you can borrow and how much you can afford to pay back when you work in a job that doesn’t offer a juicy bonus, share options or performance-related pay.

Luckily, many High Street lenders recognise the security of public sector work while some specialist lenders even offer favourable mortgages in recognition of the value and contribution public sector workers make to society.

So whether you work for the NHS, clean the streets, respond in an emergency or help to educate the youth of tomorrow, speak to us to explore your options.

The public sector job for life

While times have changed and working in the public sector may not offer a job for life in the way it used to. There is certainly more security than colleagues in the private sector may experience, as well as opportunities to progress and develop.

This has benefits if you’re trying to secure a mortgage in that some specialists will take into account your earning potential, thus be a bit more flexible on the amount you’re able to borrow in relation to your salary – but don’t get too excited, you still have to be able to meet water-tight affordability tests.

A steady income with a likelihood of career progression, can also mean you’re less likely to overextend yourself and take on a repayment arrangement that you can’t sustain. 

Some studies by specialist lenders have looked at public sector career trajectory and financial habits, which has helped them to understand earning level, job security and payment history. 

By talking to us, we can help you find public sector mortgage calculators that will show you how much you could borrow.

We’ll also do the leg work in finding the right lender, whether it be off the High Street or a specialist lender.

You can expect to have to pass all the ‘stress test’ indicators so if you’re worried about your credit rating, now is the time to have a look and take steps to improve it.

At Affinity, as well as helping to find the right mortgage for you, we can offer tailored tips and advice based on your personal circumstances to make sure you secure the right loan.

If you work in the public sector, whether you’re looking to buy your first home [link to first time buyer mortgage page], move house, remortgage or buy-to-let, we can find the right deal for you.

Looking after those who look after us

At Affinity, we want to make sure we get the best mortgage we can for our public sector workers.

So many of our public sector workers are heroes and should be looked after.

Most mortgages for public sector workers don’t differ significantly from the rest of the market.

But it’s always best to speak to a friendly expert at Affinity to access products you might not have realised were available just by virtue of the fact that you’ve committed to a career of public service.

You’ll be assigned your own expert team member who will use their knowledge and experience to guide you through the process of securing the right mortgage and get you the best deal they possibly can.

Whatever your plans for the future, get in touch.