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How to find the best mortgage deal when you work in the Police

Mon 04 May 2020


Choosing a mortgage is probably the biggest financial decision you ever have to make. Just like anyone looking to borrow money, as a Police Officer you’ll be approved for a mortgage based on your ability to meet the monthly repayments, once your income and outgoings have been taken into account.

Lenders tend to regard Police Officers favourably. After all, when you work in the Police your job is pretty secure, your career prospects fairly healthy, plus you have a reasonable pension to look forward to at the end of it.

Three reasons why our team are experts at finding mortgages for the Police family

Since 2012, over 10,000 members of the Police family have used Police Mutual’s free Mortgage Advice Service to find them a mortgage. One reason it’s worth picking up the phone is because you get to speak to an advisor who’s experienced in finding mortgages for Police Officers and Staff.

It can be a pretty anxious time trying to find the right mortgage. So, it’s reassuring to know the advice you’re getting is right for you, as a member of the Police family.

Here are three things our mortgage advisors understand that a high street lender may not.

Pay & Conditions

Because they regularly find mortgages for the Police family, our Mortgage Advisers have a good understanding of your Police pay. For example, they understand what a shift allowance is, how your overtime works and what working unsociable hours means for your pay. If you gave them your pay slip, they would be able to understand how the money you have coming in each month is made up.

Likewise, they know specifically which deductions to your salary a lender will take into account. As well as your pension contributions, you might have Police Mutual policies to take into account or be a member of the credit union.

Your mortgage advisor will clarify how a lender will see your financial situation and advise you on the best deal for you.

Retirement Ages

If you’re approaching retirement, or thinking about retiring, you might be considering several options. Perhaps you’d like to help your son or daughter buy their first home. Or, you’re looking to downsize yourself. Our mortgage advisors are experienced in dealing with both retired or retiring members of the Police family and can advise you on the path you want to take.

Understanding what you can afford

With so many mortgages available, it can be difficult to know what you can and can’t afford. Our mortgage advisors will guide you on what income lenders will take into account, and what they won't, and give you clear understanding about the right mortgage deal for you.

If you don’t understand the mortgage markets, or you’re worried your role in the Police doesn’t leave you enough time to search for the best deal, getting some advice is essential. Whereas, some lenders only have a limited number of mortgage products, our advisors have access to the whole of the mortgage market, so they can find the best deal for you.

Our FREE Mortgage Advice Service help you find the best possible deal

As a member of the Police family, you can access our FREE Mortgage Advice Service. The first step is to give us a ring on 01543 441 630 (Mon-Fri 8.30am - 5.30pm). We will take some details from you, for example, your incomings, outgoings, age, and what kind of mortgage you think you need. This first call shouldn’t take any more than about 15 minutes.

We’ll then arrange an appointment with your own expert mortgage advisor. It’s their job to help you find the best possible deal. They’ll research the whole of the mortgage market and come back with the best option for you. But the service doesn’t stop there. Your mortgage advisor will be there to guide you through the entire mortgage journey, always at the end of the phone if you have any questions about your application.

Call 01543 441 630
Lines are open: Mon-Fri 8.30am-5.30pm

Your home may be repossessed if you do not keep up repayments on your mortgage.

Mortgage Excellence Plc, trading as Police Mutual, is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales No. 03527577. Registered office: Alexandra House, Queen Street, Lichfield, Staffordshire, WS13 6QS. For your security, all telephone calls are recorded and may be monitored.

Type of article: Articles
Category: Owning a house

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