Contract/Supply teacher mortgages

Need To Know

We are currently experiencing a high volume of savings account applications and will be in touch regarding your application as soon as we can. Apologies for any inconvenience caused.

Mortgages for supply teachers and teachers on contracts

PLEASE NOTE: YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

It is thanks to you that pupils across the country don’t miss out when their usual teacher is away – whether that’s for a few hours, days or a longer unexpected period.

Our mission was then, and remains now, to help any teacher who wants to own a home do so. We tick people, not boxes so it really doesn’t matter to us if you work as a contract or supply teacher – we’d still love to help you get on the property ladder.

To do that we:

For supply teachers we ask only for evidence of working in the region you plan to buy for two academic terms;
Use our knowledge of teacher pay ranges and contracts to lend to those working on a fixed or supply basis;

Lend up to 5 times salary for single or joint applications (subject to affordability; only one partner needs to work in teaching);
Assess each case on its own merit, processing applications by hand;

Sound good?

Details of our mortgages for supply/contract teachers are below. If you’d like to find out more get in touch, the team are waiting for your call.

So we don’t think you should miss out either. It doesn’t seem fair to us that by working in a different way you’re penalised when it comes to getting finance. In fact, combatting inequality in lending was our founding purpose. In the 1960s, women in general and teachers by profession were seen as unattractive lending prospects by many high street lenders and were routinely refused mortgages simply because of their gender and/or profession. Our founders were so disgusted by this they created the Society you see before you to solve the problem.

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Variable rate mortgages

Deposit %	Term	Initial interest rate	Follow on rate	Overall cost for comparison	Max LTV	Arrangement fee	Application fee
5%	2 years	6.04%	8.44% after 2 years	8.2% APRC	95.0%	£0.00	£0.00	Details
10%	2 years	5.64%	8.44% after 2 years	8.2% APRC	90.0%	£0.00	£0.00	Details
20%	2 years	4.49%	8.44% after 2 years	7.9% APRC	80.0%	£0.00	£0.00	Details

Fixed rate mortgages

Deposit %	Term	Initial interest rate	Follow on rate	Overall cost for comparison	Max LTV	Arrangement fee	Application fee
5%	2 years	5.49%	8.44% after 2 years	7.9% APRC	95.0%	£0.00	£0.00	Details
5%	5 years	5.19%	8.44% after 5 years	7.3% APRC	95.0%	£0.00	£0.00	Details
10%	3 years	5.19%	8.44% after 3 years	7.8% APRC	90.0%	£0.00	£0.00	Details
10%	5 years	4.79%	8.44% after 5 years	7.1% APRC	90.0%	£0.00	£0.00	Details
10%	2 years	5.19%	8.44% after 2 years	7.9% APRC	90.0%	£0.00	£0.00	Details
20%	5 years	4.69%	8.44% after 5 years	7.0% APRC	80.0%	£0.00	£0.00	Details

Shared ownership variable rate

Deposit %	Term	Initial interest rate	Follow on rate	Overall cost for comparison	Max LTV	Arrangement fee	Application fee
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We tick people, not boxes

We were formed to help teachers, whatever their role. Read more about our radical roots.

Find out more

How do you buy a home?

Our Buyers Club offers support in the form of information and guides