Mortgages for Teachers

When it comes to securing a mortgage, teachers can enjoy specific benefits tailored to their profession. Specialised mortgages for educators often feature personalised underwriting, accommodating variable income or temporary contracts.

If you’re a teacher feeling uncertain about finding the ideal mortgage, fret not. At The Mortgage Store, we specialise in assisting educators like you. Rest assured, we understand the unique needs of teachers and are committed to finding the perfect mortgage solution for you.

Teacher Mortgages

When applying for a mortgage as a teacher, eligibility typically extends to fully qualified teachers or lecturers, supply teachers, teaching assistants, nursery nurses, or child therapists. The type of contract you hold will indeed influence your application. Generally, lenders prefer applicants with full-time, part-time, supply teacher, or agency-based contracts. Remarkably, even retired teachers may still qualify for a mortgage, showcasing the flexibility of certain lending criteria in recognizing the stability of pension income.

Mortgages for Newly Qualified Teachers

Newly qualified teachers often face challenges in securing mortgages due to limited employment history and the shorter duration of contracts. However, with our expert guidance and support, accessing suitable mortgage options becomes much easier than anticipated. Through specialized advice tailored to your unique situation, finding a mortgage as a newly qualified teacher (NQT) is not only feasible but also a realistic possibility. Let us navigate the complexities for you, making your homeownership dreams a reality.

Higher lending options for Teachers

Teachers do get to benefit from a higher lending options than the standard application, some lenders will allow 5.5x your income compared to the standard 4.5x that most applicants get, to qualify for this, you must be a fully qualified teacher and be apart of the The General Teaching Council (GTC)

Supply Teachers’ Mortgages

Supply teachers face challenges in securing mortgages due to the unpredictable nature of their work. However, there are lenders who cater specifically to supply teachers, offering tailored mortgage solutions. With our assistance, accessing these lenders becomes seamless and stress-free. If you have a consistent history of working in teaching and your past earnings demonstrate stability, obtaining a mortgage is more achievable than you might think. Let us guide you through the process, ensuring you access the mortgage options that best suit your needs.

Teachers’ Pensions

It’s also possible to use your teachers’ pension as evidence when applying for a mortgage and going through affordability checks. If you’re entering retirement as a teacher or you’ve already retired, you can still get a mortgage with our expertise on hand.

Speak to The Mortgage Store

If you’re a teacher and you’re looking to secure a mortgage, you should get in touch with us. We’ll be able to give you more details about the options out there and ensure you find the solution that works best for you. If you do want to get in touch, simply use the contact form on our website.