Experienced teacher buying a first home?

Yes. Many of our members often assume mortgages aren't available to both newly qualified teachers and experienced teachers, but in reality we help education professionals at every stage of their careers.

If you're an experienced teacher buying your first home, your current income, annual salary and consistent work history put you in a strong position to get a teacher mortgage.  We also support:

• Newly qualified teachers (NTQs) and early career teacher (ECTs)
• Teachers who have recently transitioned into education
• Teaching assistants
• Lecturers and university staff
• Headteachers and school leaders
• Supply teachers
• Contract teachers
• Other education professionals
• A retired teacher purchasing jointly with working partner 

Saving for a deposit is typically the biggest challenge for first time buyers. Many teachers pay rent for years while simultaneously trying to save enough money to purchase a property. That's why we offer teacher mortgages with a loan value ratio of up to 95%, meaning teachers only need a 5% deposit, subject to affordability. A smaller deposit can help experienced teachers enter the current market sooner, rather than waiting many years to save a large amount. 

At Teachers Building Society we're passionate about helping teachers buy homes, which is why we offer up to 7x income for eligible applicants, while most lenders only offer 4 or 5x. Our approach helps teachers access a larger budget in the mortgage market, helping them buy their dream home. To find out your borrowing power, head to our first time buyer calculator. 

Absolutely. For some first time buyers, shared ownership can make purchasing a home affordable.

For teachers with a smaller deposit, a shared ownership scheme provides an alternative route to getting a professional mortgage, quicker than having to save for years. If this sounds like you, our team can advise on what's suitable for you right now.  

A mortgage broker can help compare products across the wider mortgage market and look at mortgage schemes from different lenders. However, when you're looking specifically at mortgages for teachers, speaking directly with a specialist is helpful. Our mortgage team truly understands the education sector, more so than other lenders, so they can share advice with a more tailored perspective.

Whether you choose to work with a mortgage broker or contact us directly, speaking with an expert can help make the mortgage process run smoother. 

Mortgage applicants are assessed individually and on their own merits, but teachers are often viewed positively by mortgage lenders because they typically have reliable income, strong job security, annual income and clear career progression. These all help support a mortgage application. 

Yes, supply teachers can apply for a mortgage. We know that teaching staff including supply teachers may not have a traditional employment contact, but depending on your personal circumstances we may be able to consider applications from teachers working on temporary contracts.

Having adverse credit or bad credit doesn't automatically mean you won't be able to get a mortgage. For a teacher mortgage, we look at your credit history and the nature of any issues, as well as how recently they occurred. If you're concerned about your credit, it's worth speaking with a mortgage adviser. 

Yes. We support newly qualified teachers NQTs, teaching assistants and early career teachers, including aspiring teachers with a job offer who may not yet have received their first payslip. Browse our current ECT mortgages. 

Absolutely. Many first time buyers get teacher mortgages with Teachers Building Society. In fact, our 7 times lending ability means we may now be able to lend first time buyers even more. Get in touch find out if you could be eligible. 

A retired teacher may still be eligible for a teacher mortgage, particularly if they are applying jointly with someone who is currently employed with a consistent income. In these cases, we will assess the employed applicant’s income alongside any retirement income received by the retired teacher, such as a pension.

We try to offer teachers and education professionals mortgages with competitive interest rates, working hard to make each teacher mortgage the best we can offer. 

We're only ever a call away. Get in touch today.

Although we don't have a high street branch, our customer care team are real people at the end of the phone. Speak to a member of our team today.