Mortgages for Newly Qualified Teachers (NQT’s)
Teacher Mortgages in Coventry
Many schools now only offer Newly Qualified Teachers (NQT’s) a 12-month initial contract as standard. This can prove a problem for many Teachers if they want to buy a property. This is because most of the High Street Mortgage Lenders will class them as a “Contract Worker”. As such teacher mortgages will require you to have 12 months in the role.
Fortunately, some smaller Lenders are more sympathetic to this situation and will consider an application without the 12-month history.
Things to be considered:
- No previous employment history required (so it’s fine if you have been studying up until now)
- A 12-month first post-contract can be treated the same as a permanent role
- Mortgages available up to one month before the start of the first contract (so you can apply in the August for example)
- Up to 95% loan to value
If you are a newly qualified teacher and would like to discuss your mortgage options then please don’t hesitate to contact us.
Don’t worry, your Coventry Mortgage Advisor is here to help you!
We are experts in our field and are pleased to help with all Mortgage situations including:
- First Time Buyer Mortgage Advice in Coventry
- Home Mover Mortgage Advice in Coventry
- Remortgage Advice
- Buy to Let Mortgage Advice in Coventry
- Right to Buy Mortgage Advice in Coventry
- Self Employed Mortgages
- Specialist Mortgage Advice in Coventry
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