Mortgage Help For Teachers

Everything you need to know about getting Mortgage Help for Teachers.

Is There Any Mortgage Help for Teachers In The Uk?

There are some options in terms of Mortgage help for Teachers in the UK in the UK. Firstly you have specialist Mortgage advisors like ourselves. We offer expert advice on all things education. Next you have specialist lenders such as Teachers Building Society. They offer specialist products that help Teachers otherwise unable to get mortgages.

Along with these Mortgage help for Teachers in the UK you also have the various Teacher Mortgage schemes available. These include Help to Buy and the First Homes Scheme. You also have the shared ownership scheme and Right to Buy, we have a whole article on the schemes available here.

Is There Any Mortgage Help for Teachers in the UK With Bad Credit?

Yes you do get Mortgage help for Teachers in the UK in the UK with Bad Credit. Many lenders have specialist products for bad credit mortgages. It will depend on what you have had, how long ago it was, what it was for and how much it was. For example some lenders will consider a default as long as it was over 6 months ago such as Bluestone. Some lenders like Kent Reliance will consider bankruptcy as long as it was over 3 years ago. Lenders change their criteria all the time though, so speak to a specialist Mortgage Advisor before making any application.

Is There Mortgage help for Teachers in the UK That Are First Time Buyers?

First Time Buyers have it tough. You need to get a deposit, whilst usually paying rent as well. Deposit is the biggest barrier for entry on to the property ladder. However if you have a deposit then you should have options. You would need a minimum of 5% of the purchase price of the property you want in general. You may need more if you have bad credit or if lenders have changed their criteria temporarily due to world events such as Coronavirus.

If you are wondering how much you can borrow, get in touch and we can tell you for free, usually in under ten minutes.

Mortgage Help In The Uk For Supply Teachers?

Supply Teachers certainly have it tough, however you can still get Mortgage help for Teachers in the UK. When you are a supply Teacher you usually have shorter fixed term contracts. However lenders can consider you after a term or two. You should definitely speak to a specialist Mortgage Advisor though. This is mainly because if you put in an application with the wrong lender it may affect your credit rating and ability to get credit.

Always speak to a qualified advisor before making any decisions if you can. At Albion Forest we waive our broker fee for Teachers. So it will be worth it to give us or another specialist Mortgage Advisor a call.

Mortgage help for Teachers in the UK That Are Retired?

Retired Teachers may struggle to get Mortgage help for Teachers in the UK. However that is where we come in. We work with Lenders that understand retirement, and often Teachers retire earlier than other professions.

As a retired Teacher you will probably be receiving pension income, rather than employed income, or you could potentially be receiving both. There are specialist Lenders that understand life as a retired Teacher and have products in place for you.

Mortgage Help For Teaching Assistants?

Teaching assistants may not have access to all the same products and services that Teachers get. However there is Mortgage help for Teachers in the UK that can also be accessed by Teaching Assistants. This includes certain lenders and products designed for Educators.

We also offer the same level of service and discount on our fees to Teaching assistants as we do Teachers.

As a Teaching assistant your contribution to the education of children across the country is integral to the education system. Both us here at Albion Forest Mortgages and certain Lenders understand this and offer the same help as the Mortgage help for Teachers in the UK that is available.

Mortgage help for Teachers In The Uk That Are Still Training?

You can absolutely still get Mortgage help for Teachers in the UK whilst Training! When you are training you will likely be in receipt of a bursary. Some lenders will take this into account whilst working out your borrowing. So you don’t need to wait until you have started your first position to get your first mortgage. If you have been offered your first position as a Teacher but it hasn’t started yet you can also usually get Mortgage help for Teachers in the UK. As soon as two months before your new position starts.

Mortgage Deals For Teachers

When you are looking for Mortgage help for Teachers in the UK, mortgage deals are probably what you actually want. There are a few different mortgage deals for Teachers available, however they may not always be the best choice for you. There are a lot of factors to consider when choosing a mortgage, and just because a product is designed for you, doesn’t mean a standard mortgage available to all isn’t more beneficial.

We have a whole article on mortgage deals for Teachers. If you are considering a specialist product definitely speak to a qualified Teacher Mortgage advisor to see if there is anything more suitable out there.

Mortgage help for Teachers In The Uk That Are Newly Qualified

When you are Newly Qualified it can be a real struggle to get a mortgage. You are often on a fixed term contract that will have an end date. Your employment may not however end on that date, but a lender may not know that. NQT (Newly Qualified Teacher) Mortgages are tricky, but some specialist Lenders such as Teachers Building Society understand your first year may be a bit different.

You also have specialist Teacher Mortgage Brokers like us that talk to clients in this situation day in and day out. We often help Newly Qualified Teachers get mortgages, and we waive our broker fees for Teachers as you have it hard enough as it is!