Public Sector Employee Mortgages

Public Sector Mortgages

Public Sector Employee Mortgages

Category : Mortgage News

Are you a Public Sector Employee?

More and more lenders are providing specialist mortgages to public sector employees with crucial differences that can maximise your mortgage. Here at Mortgage123, we are “One Broker, All Banks” meaning we have access to all lenders who are currently offering these specialised mortgages catered towards public sector employees. These exceptions to the standard mortgage will allow lenders to take into account important monetary factors that are unique to the public sector. This can make a significant impact on the overall annual salary of an employee in the public sector.


What is different for Public Sector when applying for a Mortgage?

Basic Pay – Basic pay will be taken two points up on the pay scale when applying for a mortgage. You will now be assessed with a higher wage on your application.

Overtime – 100% of overtime completed by public sector employees in the previous year can be included in the basic wage.

Bonus – 100% of bonus pay will be accepted with evidence from a P60 over 3 years, provided that the bonus pay does not exceed 50% of your basic salary. If there is less than 3 years evidence then lenders will accept up to 50% of bonus pay.

Probation Period – This will include existing public sector employees promoted or transferred on 12 months’ probation.  Whereas new entrants will be determined on a case by case basis depending on their employment history.

Contractual Allowances – 100% of your contractual allowances can be applied.  This will mean you will be able to take out a larger mortgage if needed.

Gift – 100% of the deposit can be gifted provided repayment capacity is evident.

Maximum Age – The maximum age at mortgage expiry has increased up to 70 and no proof of pension is required. There can be up to 4 individuals per application which will give more flexibility for applicants.


Public Sector Mortgage Seminars

The Mortgage123 online Public Sector Mortgage Seminars via Zoom have become very popular over the summer. Our aim is to provide all the relevant information that you may need in a brief but informative seminar. Whether you are looking to buy your first home, trading up or switching your mortgage, we have it covered.

Mortgage expert and Mortgage123 Sales Director, Sean Corbett will walk you though every step of the mortgage process during the seminar and answer any mortgage related questions or queries you may have.

Register for one of our upcoming Zoom seminars on Mortgages on Eventbrite. Register here


What rates are available to public sector employees?



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