A Public Sector Worker?

Public Sector Mortgages


Certain lenders have recently created mortgages specially designed for public sector employees with important changes that could make a significant difference when applying for a mortgage. Allocations for employee pay scales, overtime and allowances are now taken into consideration. Rates start from as low as 2.4% APR making mortgages easier than ever for public sector employees to get.


What is Different about Public Sector Mortgages?

Basic Pay – Basic pay will now be taken as two points up in 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.

Probation Period – In the case of probation periods 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 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 and there can be up to 4 individuals per application which will give more flexibility for applicants.

Mortgage Rates for Public Sector Workers

Public Sector Mortgage rates table

Why Do You Need a Mortgage Advisor?

Firstly, It will not cost you anything! Who Can You Turn To For Advice / Support?
The process can be daunting so it makes sense to find a mortgage broker / advisor that can take the pressure off. A good advisor will simplify the process, gather all your information, advise you on ways to save for a deposit, know whether you should opt for a 25 or 35 year term, and most importantly, they’ll shop around for the best possible mortgage deal for you. It doesn’t cost you a € to chat with an advisor because their fees are covered by the mortgage lenders.

The advisor will do the following:

  • Assess your chances of getting a mortgage
  • Recommend measures to secure mortgage approval
  • Fill out your application and make sure you have everything in place
  • Get a quote from each bank for you and recommend the best
  • Calculate the additional tax and legal expenses involved in the purchase
  • Make sure all runs smoothly and stress-free for you

Tips For Buyers

  • You should ideally get a Mortgage Advisor to check your application before you submit it. If you get a refusal from one bank, this just might affect your chances of getting approval from another bank.
  • Do you have a deposit saved up? If not, talk to a Mortgage Advisor who can advise you on the best way to secure a deposit.
  • Your mortgage repayments can be up to 40% of your net income.
  • Have you budgeted for buying related costs such as valuation, legal fees and mortgage protection?
  • If you are looking for more information and have never bought property before, check out our blog post on the Help to Buy Scheme and First-Time-Buyers here


Mortgage application checklist

Click image to view or download mortgage checklist

Online application form for pubic sector mortgages

Click here to fill out our Online Application Form

Online Mortgage Application

Online Mortgage Application

Subscribe to our Newsletter

Why Use a Mortgage Broker?

Why use a mortgage broker

Darragh O’Sullivan Expat Mortgage Article