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Mortgages for supply teachers

Our team are specialists when it comes to teachers’ mortgages and can find excellent rates and deals for mortgages for supply teachers.

It is important to get advice from a broker with a good understanding of how teaching can affect a mortgage application, particularly for supply teachers who may have less consistent income or working hours.

You can save thousands on your mortgage by speaking to one of our highly skilled brokers. Our team have over 20 years of expertise in finding supply teachers the best possible pricing for their mortgage.

Mortgage advice for supply teachers

It is essential to make sure you get the correct advice when it comes to a big commitment like a mortgage. Our team of highly skilled mortgage experts can offer 20 years’ worth of relevant advice, to ensure you put in place the best mortgage for your needs and budget.

With supply teaching there can be some differences with your application, compared to a full-time employed teacher. Lenders may need to know:

  • Are you currently working or under contract?
  • How long have you been a teacher/supply teacher?
  • Are you a newly qualified teacher or more experienced?

In most cases, being a supply teacher shouldn’t hugely impact your ability to take out a mortgage. If you have been a supply teacher for 6 months or more, or a qualified teacher for over 2 years, you should have a wide variety of lenders and deals to choose from.

How do mortgages for supply teachers work?

With mortgages for supply teachers as with other occupations, your income and job role will be assessed by lenders when assessing affordability.

This will help lenders decide if there is any risk to lending and what income multiples they will offer you. Lenders will all have slightly varied lending criteria so it is a good idea to speak to an expert broker who knows which lender will work best for you.

When looking at supply teacher’s applications lenders will consider:

  • Whether you are employed or self employed
  • If self-employed, can you evidence your income? (via SA302s for example)
  • Are you employed through an agency?
  • How long are you contracted for? Is it a temporary contract with an end date or is it a rolling contract?

Which are the best mortgage lenders for supply teachers?

As supply teachers often work part time or on a contract basis, you could be concerned this will prevent you taking out a mortgage. This shouldn’t be the case, but it may be that a more specialist lender will work better for your income type.

We can compare deals across over 50 of the UK’s top lenders, meaning we can find the right deal for any buyer, and this includes mortgages for supply teachers.

Some of our top mortgage lenders for supply teachers include:

  • Accord Mortgages
  • Barclays
  • Halifax
  • HSBC
  • Natwest
  • Newcastle Building Society
  • Santander
  • And more…

Every mortgage type and lender will have slightly different requirements so certain lenders and deals will be more suitable than others. When looking for the best deals, things that can affect your application include:

  • Your income
  • Do you have a poor credit history or debts?
  • Your deposit amount (loan to value LTV)
  • The mortgage type (buy to let, shared ownership etc)
  • The property type (new build vs older property, non standard constructions)

There are various ways to apply for a mortgage or remortgage and each way will affect which mortgage rates and deals are accessible for you. Some common ways to apply for a mortgage are:

  • Speak to a mortgage broker or mortgage advisor: a common way to buy and can be very useful as you have access to wide range of lenders and deals. You also benefit from expert advice and support throughout your application.
  • Apply to your Bank or Building Society: applying directly to a bank or building society can be a good option, with the potential for better rates if you have already got an account or savings with the lender. This is a more limited option though as you will only see one lender’s deals.
  • Apply for a mortgage online or via a price comparison site: this can be a popular option with no broker fees but can be time consuming and confusing, without additional help and guidance.

Mortgages for self-employed supply teachers

Though many supply teachers will work through an agency, some supply teachers can work for themselves on a self-employed basis through a limited company. This is a popular choice as it can offer more flexibility, as well as better tax incentives.

Self-employment can equal different income requirements for mortgages. Most commonly lenders will need to see:

  • 2 to 3 years of accounts
  • Company trading history
  • Evidence of salary and/or dividends
  • Accountant’s reference
  • Self-assessment tax return (SA302)

Best mortgage for supply teachers

The best mortgage for supply teachers will depend on individual applicants and their circumstances. You may be able to qualify for buyer support schemes (particularly if you are a first time buyer) that will help you to save on your mortgage. There were key worker schemes available for mortgages for teachers during the pandemic which unfortunately are no longer an option.

There are however other great government buyer support mortgage schemes supply teachers can benefit from including:

Mortgage brokers for supply teachers

Our highly skilled and qualified mortgage experts can find the best deals and rates for mortgages for supply teachers. We can access deals through both high street and specialist lenders, to suit the needs of any buyer.

We compare prices across over 50 of the UK’s top lenders and put customer service at the forefront of everything we do.

We want to make sure that you are fully confident in your choice of mortgage broker and aim to help supply teachers put in place the right deal at the best possible price.

*according to government research

Useful resources

Contractor UK – Supply teaching using a limited company

Gov.uk – Affordable home ownership schemes

Own Your Home (Gov.uk) – All schemes

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