Teacher Mortgages

Depending on your situation, getting a mortgage as a teacher can be tricky, especially if you’re newly qualified.

Are you a teacher looking for a mortgage?

If you are in the teaching profession, you may find it difficult to obtain a good quality mortgage. Maybe you work on a supply basis or you’re a fully qualified teacher or lecturer working on a full or short-term basis. Regardless you may find it a struggle, as most lenders will consider your application for a mortgage, with caution.

However, if you’re a teacher looking for a mortgage, do not despair. There are plenty of good mortgage deals out there for teachers, with some fantastic benefits – and we can help find them for you.

Why teachers might struggle to get a mortgage

Since the change in the way teachers are employed, many teachers new to the industry will be starting out on a one year contract, with the potential to be renewed for the first three years employment, until a permanent position is offered. The change has caused a stir in the mortgage market and has left many new teachers tirelessly searching for a mortgage lender that will accept them.

Maybe you:

  • Are a supply teacher working on a short or long-term basis
  • Get your teaching work through an agency
  • Are unable to acquire a permanent position
  • Enjoy the challenge and variety that comes with a fixed term or temporary contract

Unfortunately, if any of the above criteria applies to you, lenders will view you with more caution as a sustainable income is a difficult thing to prove (especially as a supply teacher) because although you may be able to find work easily, lenders believe that there is no certainty to the hours available to provide income, especially for the life of the mortgage.

However, we have a different approach to teacher mortgages. We understand that being a teacher or lecturer (of any level) can be stressful enough as it is and the process of obtaining a mortgage shouldn’t be equally as challenging.

That’s why we help provide teacher mortgages to professionals in the educational sector so they can start reaping the benefits of top rates, flexible criteria, special underwriting when it comes to temporary contracts, variable income and more.

Do I qualify for teacher mortgages?

Usually, to qualify for a teacher exclusive mortgage at least one applicant must be one of the following:

  • A fully qualified teacher/lecturer
  • A teaching assistant with an NVQ level 3
  • A newly qualified teacher (NQT)
  • A nursery nurse with an NVQ level 3
  • A supply teacher with a track record
  • A children’s therapist

If you fall under one of those roles, you ideally need to be one of the following contract types:

  • On full-time contracts
  • On part-time contracts
  • Supply teachers
  • Agency based teachers
  • Retired teachers
  • And those receiving other educational related income grants and bursaries

How we help provide teacher mortgages

With our expert advice and guidance, we can help put a case together for you to prove to lenders your income protection through your employment history. Luckily, for your benefit, we have access to lenders who can manually review applications case by case, for common sense, a fair lending decision and so that you have the best possible chance in obtaining the best mortgage deal for you.

We specialise in providing teacher mortgages and we scour the market to find you the best possible deal to save you the time and effort.

We also help provide an array of professional mortgages including doctor mortgages, company director mortgages, police mortgages. Contact us to find out more.

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