Increasing Our Lending Limits
Teachers Building Society has increased lending limits from up to 5x to up to 7x your income, subject to a full affordability assessment. Our goal is to make it easier for teachers to buy their first home. We help education professionals, including ECTs (NQTs) and supply teachers, borrow more money and secure their dream home.
Check how our new limits have changed your affordability. You might be closer than you think.
What is affordability?
Affordability is the amount of money your mortgage lender estimates you can afford to borrow, based on your income. This is usually 4/5x your salary.
Teachers Building Society is now offering up to 7x income mortgages to teachers. This includes joint mortgages, where only one of you needs to work in education.
This means a couple with a joint annual income of £60,000 could borrow up to £420,000 to buy their dream home.
The Teachers Building Society Mortgage Difference
We’ve been opening doors for teachers since 1966. Unlike mainstream banks, Teachers Building Society is owned by our members. That means we can reinvest profits to give better rates to teachers and education professionals.
60 years ago, that meant enabling female teachers to own their property without a male guarantor. Today, it means lending ECTs (NQTs), experienced teachers and contract/supply teachers more than ever before.
When school’s out, we’re in to talk mortgages!
First Time Buyers Calculator
Most people agree that saving the deposit is the hardest part of the home buying journey. With our increased lending limit, you might be closer than you think.
Take 2 minutes to check how much you can borrow and get mortgage recommendations based on your current circumstances.
Please note: Mortgages are secured on your home. You could lose your home if you do not keep up payments on your mortgage. Terms and conditions apply. Mortgages are subject to underwriting, criteria and a full affordability assessment. Please contact us for full details.