Mortgages for Teachers

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As a teacher, there are certain benefits you might be entitled to when you start looking for a mortgage. Mortgages for teachers can even provide you with personalised underwriting allowing for variable income or temporary contracts.

So, if you’re a teacher and you’ve been worried about finding the mortgage that works best for you, don’t worry because you’re in the right place. Here at The Mortgage Store, we know what it takes to find the right mortgages for teachers.

Who Qualifies?

When applying for a mortgage as a teacher, you need to be a fully qualified teacher or lecturer, a supply teacher, a teaching assistant, a nursery nurse or child therapist. The contract type you have will also have an impact on your application. It’s usually necessary for you to have a full-time, part-time, supply teacher or agency-based contact or even as a retired teacher, you may still qualify for a mortgage.

Mortgages for Newly Qualified Teachers

Because of a lack of employment history and the shorter nature of contracts, newly qualified teachers can struggle to find lenders that may offer them mortgages. However, with our professional help and support, you’ll find it easier to get access to suitable mortgages than you might expect. With specialist advice, it’s more than possible to find a mortgage as an NQT.

Finding a Mortgage with Less Deposit

You might have heard of some government support programmes that are designed specifically for people who work in education, like the Key Worker Mortgage Scheme. The lenders that once offered key worker mortgages are currently not doing so, however, the help to buy scheme allows first-time buyers to get on the property ladder with only a 5% deposit.

Supply Teachers’ Mortgages

Supply teachers often don’t have consistent and reliable work because of the nature of supply teaching. This, of course, can cause problems when the time comes to apply for mortgages. There are lenders that provide mortgages to supply teachers and with our help, you can access them all very easily and without any stress. If you have a history of working in teaching and your past earnings back that up, it’ll be easier than you think to get a mortgage.

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.