How does it work?

Equity is the portion of your home that you own outright – essentially the difference between your home’s current value and the mortgage you still owe. By remortgaging your current home, you may be able to release some of this equity. The released funds can then be used as a deposit for your new home, while the original property is rented out.

In practice, this involves two steps:

Remortgaging your current property to release equity.

Securing a mortgage on your new home using the equity as the deposit.

👉 Not sure how much equity you could release? Peters Financial can walk you through the figures and help you see what’s realistic.

About Peters Financial

Getting a mortgage can be difficult and, despite what you might expect, working for the NHS doesn’t always make it any easier.

We often hear from doctors, nurses and other NHS staff who have been turned down for a mortgage by their own bank or who have been told they can’t borrow the amount they need to buy the home they really want.

This can happen for all sorts of reasons.

It might be that you haven’t got a large enough deposit. But saving up a deposit isn’t always easy when you’re using a big chunk of your salary each month just to pay the rent.

Or you might find you’re offered a smaller mortgage than you need because the lender is only looking at your basic salary and isn’t taking into account your overtime, shift allowances, bank hours, or fees from private practice.

And some banks will turn down your mortgage application if you’re newly qualified, have student debts, or have got a less-than-perfect credit score.

But here’s the good news…

At Peters Financial Services, we’ve built relationships with lenders who understand how NHS staff work, how you get paid, and how your income might grow over the coming years as your career progresses.

This means that, if you’re currently renting and meet a few simple requirements, we can get you a 100% mortgage with no deposit needed.

Plus we’ve got special schemes for NHS staff which allow you to borrow more than you could from your own bank – in some cases up to six times your own salary plus four-and-a-half times your partner’s salary. This means you don’t have to settle for second best when choosing your new home.

We can even help you get a mortgage if you’ve just started working for the NHS or you’ve got a poor credit history.

To find out more and see which mortgage offers you qualify for, fill in our quick enquiry form an we'll get back to you with helpful information when you're not on shift.