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Do teachers get better mortgage rates?
As a teacher, you’ll find that more lenders are eager to consider your application, giving you access to some of the best interest rates available. Plus, you can enjoy additional benefits such as lower deposit options and flexible eligibility requirements, including acceptance of variable income and temporary contracts.
While there’s no specific “teacher mortgage,” there are standard mortgages offering the best terms tailored for educators. It’s highly beneficial to consult with a specialist mortgage broker who understands the unique aspects of securing a mortgage in the education sector. They can guide you to the best lenders and help you navigate the process with confidence.
In general, teachers have access to the same fantastic mortgage deals as everyone else, but with added perks that make homeownership even more accessible for those in the education field.
How to get a mortgage as a teacher
Start by making an inquiry with us, so we can connect you with a mortgage broker who specializes in helping teachers secure home finance. Our network includes advisors who are experts in teacher mortgages and know which lenders offer the best rates and deals for educators.
Your dedicated broker will guide you through every step of the process, including:
- Preparing your paperwork and credit reports
- Finding the best lenders for teacher mortgages
- Securing the lowest interest rates and submitting your application
With expert help, you can confidently navigate the mortgage process and find the best home finance options available for teachers.
Can supply teachers get a mortgage?
Many lenders are open to applications from supply teachers, though the requirements can vary. For example, The Building Society may accept your income if you’ve worked continuously for the last six months with no more than a two-week gap. Another Building Society requires at least two years of proven work history, while The Bank looks for three years of earnings.
Given these varied benchmarks, working with a broker is essential. They have the expertise to identify which lenders are the most flexible for supply teachers.
What if you’re newly qualified?
How Mortgage Advice Exchange can help?
Our team of highly skilled and qualified brokers, with over 20 years of experience, specialises in securing exceptional mortgages for Teachers. Our extensive knowledge of financial services, particularly mortgages, allows us to provide expert advice tailored to your needs.
We focus on mortgages, ensuring you avoid wasting time with unsuitable lenders or deals. With our guidance, you can access outstanding mortgage offers.
We understand the specific requirements for mortgages and know which lenders provide the best rates, ensuring you receive the most competitive deals available.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is £495.