Search the market today Fast decision-in-principle No impact on credit score Free, no obligation advice

What are teacher’s mortgages?

A teacher mortgage is a term used for mortgage products that may be more applicable to teachers, depending on their circumstances.

Contrary to popular belief, there isn’t actually a specific mortgage product called a ‘teacher mortgage’. Lenders were previously able to offer discounts under the Key Worker Mortgage Scheme, but this is no longer available. There are some mortgage products, however, that are more suitable for teachers if they are supply teachers, part time or newly qualified on temporary contracts.

At The Mortgage Broker, we specialise in placing you with your perfect mortgage through straightforward and transparent advice.

Exclusive access to mortgage rates through a mortgage broker 20 Mins affordability checks

What qualifications are needed for teachers to apply for a mortgage?

In order to qualify for a teacher mortgage, either alone or as part of a joint mortgage, one of the applicants involved in the process needs to have a certain qualification under their belt.

Usually, this means you’ll need a full teaching qualification, necessary in a variety of educational institutions. These include:

  • NVQ level 3 teaching assistant
  • Newly Qualified Teacher (NQT)
  • NVQ level 3 nursery nurse
  • An experienced supply teacher

You can be a fully qualified teacher, or you can have one of the qualifications above, and you’ll need to be able to provide proof of a teaching contract you’re on or have been on in the past. These can include both full time and part time contracts, supply teacher contracts, or as a retired teacher.

How do you apply for a teacher’s mortgage?

There are some differences in the mortgage process when it comes to teacher mortgages. Depending on the kind of contract you have and how long you’ve been working, there may be some additional hoops that you need to jump through.

If you’re newly qualified, be sure to make this clear on your application, as most mortgage lenders will review your application differently if you are an NQT. This is because your NQT contract is technically temporary, which has the potential to make your income appear more insecure in a lender’s eyes, until you have secured a permanent contract.

If you’re a supply teacher, it can be hard to provide proof of reliable income which could impact how a lender views your application. You may have to provide proof of income for a number of months or even years on your mortgage application.

If you’re a retired teacher and are drawing down a pension, this pension can be used as proof of income. It shouldn’t be discounted during an application, and most lenders will be happy to use it as part of the process.

Mortgages for teachers with bad credit

If you’re a teacher with a bad credit score, you can still be eligible for many mortgage products out there. Many lenders, especially those not on the high street, have specific mortgage products in place for applicants with adverse credit, so you shouldn’t let this stop you from making an application.

Why use The Mortgage Broker?

At The Mortgage Broker Ltd, it’s our vision to become the UK’s most trusted and respected mortgage broker. The only way for us to achieve this is by providing straightforward and transparent advice to each and every one of our clients.

From your first call to your last, we put customer service first before all else so you can be confident in getting expert mortgage advice.

Access market beating rates

Got an eye on your dream home? Speak to one of our friendly advisors today.

Request a call back