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Mortgage Advisor & Director
Are there specific mortgages for public sector workers?
As a public sector worker with structured career progression and a stable income, you are attractive to lenders.
There are specialist lenders who can provide so-called 'Hero mortgages' applicable to public sector workers, recognising that public sector workers on a low income are not necessarily being served well by mainstream lenders.
At Teito, we are a whole-of-market independent mortgage broker, meaning that have access to mortgages not otherwise available to the general public.
If you are a public sector worker looking for a new mortgage, complete our simple form today to get the process started!
Who is a public sector worker?
A public sector worker is anyone who is paid by the Government rather than a private company.
Public sector roles are diverse and include career paths such as:
- Healthcare, typically employed by the NHS
- Law enforcement and security, either in the Armed Forces, fire service or police force
- Social care, including social workers, carers and probation officers.
- Teacher training and education, including primary, secondary or higher education.
Why can it be challenging to get a mortgage as a public sector worker?
For public sector workers on a low salary, it can be challenging to get the right amount of borrowing on a mortgage.
Some specialist lenders cater to public sector workers better than mainstream lenders, and there are government schemes that are designed to encourage homeownership.
What Government schemes are available for public sector workers?
Help to Buy Equity Loan scheme
The Help to Buy Equity Loan scheme helps first-time buyers to buy a home.
The Government lends you up to 20% to put towards your newly built home; you put up a deposit of 5% and mortgage the outstanding 75%. In London, the upper loan limit is 40%, with the deposit remaining at 5%. Read more about the Help to Buy Equity Loan scheme.
The Right to Buy scheme is for council housing tenants in England, Wales and Northern Ireland. The programme allows tenants to buy their home at a discount. The right to acquire scheme is similar, however, applies to housing association tenants instead.
The Rent to Buy scheme allows prospective homeowners to pay subsidised rent on a newly built home for up to five years (depending upon the property). During that time, you have to option of buying the property either outright or under a shared ownership scheme.
The Help to Buy Shared Ownership scheme enables you to own a portion of your house, ranging from 25-75% of the value. You will pay rent on the remaining share and will have the opportunity to increase your ownership share. Read more about the scheme here.
Read our Government Schemes page to learn more about the other types of scheme available.
How can I get started?
Complete our quick and easy online form today to get the process started.
One of our experienced advisors will be in touch to discuss your public sector mortgage.
Choosing an Adviser
Selecting a qualified and experienced mortgage adviser is of great importance. To choose a suitable adviser, evaluate their qualifications, experience, and reputation, and ensure they are regulated by the Financial Conduct Authority (FCA).
Read reviews from previous clients and make sure they provide a clear explanation of the products and services they offer, as well as the fees and charges associated with them.
