First Time Buyer Mortgages for Early Career Teachers (NQTs)

Need To Know
  • New savings rates from 1 July 2022

Early Career Teacher (ECT) Mortgages

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

Supporting ECTs (NQTs) and recently qualified teachers (RQTs) is as important to us today as it was to our founders in the 1960s.


That’s why we offer dedicated support to help Early Career Teachers (ECTs) get mortgages, including:

 

  • Providing ECT (NQT) mortgages based on an initial job offer only (no payslip requirements)
  • Treating ECT (NQT) initial (12) 24 month contracts as permanent for mortgage application purposes
  • Enabling mortgages that commence up to 2 months before an ECT (NQT) starts their first teaching role

We offer range of fixed (interest rate remains the same) and variable (the interest rate can change) mortgage options for ECTs (NQTs) with smaller deposits of just 5% or 10% of the value of the home they’re purchasing.

We don't stop there. For teacher first time buyers we pledge to:

  1. Offer mortgages for up to 5 times joint salary (only one needs to be a teacher)
  2. Offer mortgages with just a 5% deposit
  3. Save our best (lowest) rates exclusively for teachers
  4. Provide ‘fee free’ mortgage options
  5. Offer mortgages to ECTs (NQTs), supply and contract teachers
  6. Take teacher pay grades into account
Filter:

Variable rate mortgages

Deposit % Term Initial interest rate Follow on
rate
Overall cost for
comparison
Max LTV Arrangement
fee
Application
fee
5% 2 years 3.29% 5.29%
after 2 years
5.1% APRC 95.0% £0.00 £0.00
10% 2 years 2.99% 5.29%
after 2 years
5.0% APRC 90.0% £0.00 £0.00
20% 2 years 2.69% 5.29%
after 2 years
5.0% APRC 80.0% £0.00 £0.00

Fixed rate mortgages

Deposit % Term Initial interest rate Follow on
rate
Overall cost for
comparison
Max LTV Arrangement
fee
Application
fee
10% 5 years 3.69% 5.29%
after 5 years
4.8% APRC 90.0% £0.00 £199.00
5% 5 years 3.99% 5.29%
after 5 years
4.9% APRC 95.0% £0.00 £199.00
10% 2 years 3.69% 5.29%
after 2 years
5.0% APRC 90.0% £0.00 £199.00
20% 5 years 3.39% 5.29%
after 5 years
4.7% APRC 80.0% £0.00 £199.00

Shared ownership variable rate

Deposit % Term Initial interest rate Follow on
rate
Overall cost for
comparison
Max LTV Arrangement
fee
Application
fee
5% 2 years 3.90% 5.29%
after 2 years
5.2% APRC 95.0% £0.00 £0.00

Making history, not just teaching it

We've been helping new teachers buy homes since the sixties

Buy one mortgage donate one hundred pounds

For every teacher that take a mortgage with us we'll donate £100 to Education Support

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 and criteria. Please contact us for full details.

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