Mortgages for Teachers

We are people, just like you

Mortgages for teachers can come with a variety of amazing benefits, and some lenders look favourably on teaching professionals due to the low-risk nature of their career. 

At Go2Mortgage, we can give you all the support you need to apply for a teacher mortgage as well as securing the best deal out there to suit your specific needs.

What is a professional teacher mortgage?

Whilst there isn’t a specific mortgage aimed at teachers, there are lenders who will specialise in helping teachers to obtain a mortgage with more favourable interest rates, lower deposits and flexible criteria.

Lenders may be more empathetic to the unique challenges teachers face, factoring in both personal and professional matters. 

They are also more likely to view teachers as low-risk applicants due the nature of the teaching industry, meaning you may receive better benefits with your mortgage.

What mortgage can I get as a teacher?

As a teacher, you can apply for a variety of different mortgages. Like any mortgage application, lenders will need to ensure you fit certain criteria. 

As a fully qualified teacher, you could borrow up to five times your annual salary, but this depends on the lender. 

Specialist lenders, such as the Teachers Building Society, are dedicated to helping teachers get onto the property ladder. Some specialist lenders will not always provide the lowest interest rates, so we recommend getting advice from our expert team to ensure you get the best deal possible.

Mortgages for newly qualified teachers

If you are a new teacher, or even a teacher who has just moved jobs, you could apply for a Newly Qualified Teacher (NQT) mortgage. There are lenders who will accept NQT applications and process the mortgage the same as if you were another other teacher or employee. 

However, not all lenders will offer this, and if you just go directly to your bank, you may be limiting your options. 

Mortgages for supply teachers

Some lenders may be cautious about catering for supply teachers as there can be limited certainty to the hours available to provide income, despite many supply teachers being able to find work easily. 

Despite this, there are a select few lenders that will cater for supply teachers. If you have a history of working within a role for several months, lenders can accept a certain percentage of it when establishing how much you can borrow. 

Some providers may want to see 1 years employment history, whereas others may consider applications on a case-by-case basis.

FAQs about Mortgages for Teachers

Can I get a mortgage on a fixed-term teaching contract?

Yes, you can get a mortgage on a fixed-term contract; so long as there is a history of employment or at least several months of employment left to run once the mortgage has started. 

Can I get a mortgage on a temporary teaching contract?

Yes, you can get a mortgage on a temporary teaching contract as long as you can prove that you have worked as a temporary teacher for at least 12 months.

Certain mortgage lenders will look at your employment history, and will also need to see that there is at least 12 months left on the employment contract once the mortgage has started.

Can I get a teacher mortgage with bad credit?

Yes, you can still get a teacher mortgage with bad credit. Some lenders may consider providing the following mortgages:

  • Debt management plan mortgages

  • Mortgages with bankruptcy

  • Mortgages with defaults