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Mortgages for teachers

Our highly skilled expert mortgage brokers have years of expertise when it comes to mortgages for teachers. We know teachers have busy lives and aim to make things easier, by making your mortgage application as simple and quick as possible.

We specialise in helping teachers find the best mortgage rates and deals available, with a panel of over 50 top lenders to choose from.

There are ways in which you can benefit from being a teacher when applying for a mortgage, with some excellent rates and deals available. You can save thousands on your next mortgage or remortgage, with the right advice from an experienced broker who understands which mortgages will be best for your occupation.

There are 465,500 full time teachers working in England as of 2021, with an increase of 3,900 teachers since the previous year.*

Mortgage advice for teachers

When looking for a new mortgage or remortgage, the right advice can be key to finding the best rates and deals. Speaking to a broker who understands your occupation and any way your job role could affect your application can be extremely beneficial.

We know exactly which lenders are best to approach when it comes to mortgages for teachers. With access to thousands of available deals, our skilled experts can ensure you find the most competitive rates for your mortgage and property type.

Our highly qualified brokers know how to streamline your application process, meaning you don’t waste any time applying to lenders who aren’t suitable for your needs.

In this section (mortgages for teachers):

How do mortgages for teachers work?

Teachers will usually be able to access great rates and deals for their mortgage, due to steady income and a reliable profession.

Lenders are more likely to approve mortgages for those with professional careers such as teaching, where the demand is higher for your job role. Income multiples for mortgages for teachers can even be higher, due to the increased likelihood of promotion or pay rises.

Lenders will assess your occupation and income as a key part of the mortgage application process. Certain lenders can even offer specialised deals for education professionals, so it is worth speaking to a broker who knows where to look for these.

We can help many types of teachers find the right mortgage deal including:

  • Full time and part time teachers
  • Self employed teachers/tutors
  • Newly qualified teachers
  • Supply teachers
  • Teachers with a history of debt or bad credit
  • Teachers who are first time buyers

No matter your exact job role, we will be able to find a lender and deal that works for your needs and budget.

Which are the best mortgage lenders for teachers?

The best lender for mortgages for teachers will depend on your circumstances and the type of mortgage you need, as well as your occupation

It can be tricky to find the right mortgage deal sometimes, particularly if you are buying for the first time and are unfamiliar with the process. Whether buying for the first time or simply looking for a new home or investment, our skilled and experienced brokers can help.

Elements such as poor credit score or history can cause issues if you don’t know where to look and this is when advice from an experienced broker can be vital.

We have access to a wide panel of lenders able to offer excellent deals and rates for mortgages for teachers. This means we can compare hundreds of deals to find the right one no matter where you teach, how long you have been teaching for or your financial history.

Some of our top mortgage lenders for teachers include:

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

Lending criteria can be different depending on the lender though, so some may be more suitable for your mortgage than others.

How to find the best mortgages for teachers

There are several different options available when applying for a mortgage, and the one you choose can have an impact on the rates and deals available to you.

The 3 most common ways to apply for a mortgage are:

  • Speak to a mortgage broker or mortgage advisor: this can be the easiest way to apply, with access to specialist advice and a wide panel of lenders to choose from. A specialist broker can be the best option, particularly if you have factors such as poor credit that lenders will assess.
  • Applying to your Bank or Building Society: a direct application can be an easy option for some, particularly if they already have an account with the lender. Your options for deals can be more limited though as you can only access the rates and deals from one lender.
  • Apply online or via a price comparison site: this is a convenient option that can allow you to avoid costs such as brokers fees. This way can take longer though and become confusing without the additional support a broker can offer.

The best way to get your mortgage in place quickly and efficiently is to speak to a specialist broker who has the right background and experienced with mortgages for teachers. Having the right advice can make a big difference when looking for the best mortgage rates for teachers.

Mortgage discounts for teachers

A secure career such as teaching can mean you are more likely to have your mortgage application approved than some other occupations. This is due to increased job security meaning you seem a lower risk when it comes to lending.

Due to this, you may be able to find lower rates and better deals when you are a teacher. Some lenders can even offer specialised deals for teachers.

The deals and discounts available on mortgages for teachers can vary and not every teacher will be eligible. Speaking to a specialist advisor is key to knowing which deals will be available to you.

Government mortgage programs for teachers

During the pandemic, there were a range of mortgage schemes available to support key workers such as teachers, doctors, and dentists in buying a home.

These schemes have now ended, but we are always looking for similar options becoming available to help teachers save on their mortgage. There are other government support schemes that can be very helpful with mortgages for teachers.

These schemes include:

These schemes offer low mortgage rates for teachers or smaller deposit requirements. You will only be eligible for some of these schemes under certain circumstances though (e.g. being a first time buyer).

Mortgage benefits for teachers

Being a teacher can be very beneficial when applying for a mortgage. Your reliable job role and income can mean you gaining access to lower rates or preferential deals.

Some lenders may be willing to offer higher income multiples for teachers, due to the lower risk of lending to people in this occupation. Comparing available deals across the market could help you find lenders willing to loan more.

Speak to our experts for advice on which lenders will be most suitable when it comes to offering the best mortgage rates for teachers.

Mortgages for newly qualified teachers

It can be exciting to be newly qualified in a profession you are passionate about such as teaching. It can however complicate your mortgage application with additional questions required by lenders.

Areas that lenders will assess include:

  • Do you have an income history?
  • Are you employed or still looking for a job?
  • How long ago did you qualify?

There will be certain lenders that will be more flexible for mortgages for teachers who are newly qualified, and our team of experts can help you find them.

Mortgages for supply teachers

Supply teaching can make it more difficult to find the right mortgage deal in some cases. This is because your income may be less consistent than a full-time teacher leading to additional questions in your application. These could include:

  • How long you have been a supply teacher before?
  • Are you currently working/contracted?
  • Are you a newly qualified teacher?

Often you will still be able to find a great mortgage deal with the right advice.

Check out our dedicated page for mortgages for supply teachers for more information.

Best mortgage for teachers with bad credit

There are many reasons you could end up with bad credit or debt, particularly in the current financial climate.

Through no fault of your own you could have ended up with defaults, County Court Judgements (CCJs) or Individual Voluntary Agreements (IVAs) on your credit file. Though this is understandable, it can make it harder to find the right lender suitable for your mortgage.

We partner with many lenders who specialising in lending to people with a poor credit history, offering excellent rates to teachers with bad credit.

These lenders include:

  • Accord Mortgages
  • Aldermore
  • Bluestone
  • Kensington
  • Paragon
  • Precise
  • The Mortgage Lender

Approaching these specialist lenders could be the best option, if your debt or poor credit is significant. With a small amount of bad credit, you may still be able lend via a range of high street mortgage providers.

Mortgage help for teachers

Our team specialise in helping teachers find the most competitive pricing and best deals for their mortgages. We can help with your mortgage whether full or part time, supply teacher, retired teacher, teaching assistant, nursery nurse and more.

We know it isn’t always easy to find the right mortgage and want to help wherever we can. Our highly qualified brokers know exactly which lenders are best for mortgages for teachers and have years of expertise in finding the best deals possible.

*according to Gov.uk statistics

Useful resources

British Educational Suppliers Association (BESA) – Key UK education statistics

Citizen’s Advice – Buying a home

Own Your Home (Gov.uk) – All schemes

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