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 a 12-month history.
Trying to get mortgages for Newly Qualified Teachers can be stressful, especially if you are a First Time Buyer in Coventry too. We want to help you, get in touch with a Specialist Mortage Advisor in Coventry today to discuss all of your mortgage options.