Many mortgage lenders look at applications from teachers with favour.
This is because not only do teachers tend to stay in one area for a while, but their career is often quite stable, long, and has a real chance for growth.
In that sense, teachers are much more likely to not only stick with a mortgage but pay it reliably. Compared to many other professions, they may be entitled to a range of promising benefits lending companies use to attract their attention.
Lenders will prefer that you have a full-time position already before you apply for a mortgage. This also means those in full employment will be looked on favourably compared to supply teachers or those that run on zero-hour contracts. That said, sometimes, finding the right lender can help you assess your suitability more favourably if your employment situation is unique but dependable.
In some cases, a Newly Qualified Teacher (NQT) mortgage can exist. Sometimes, even one-year contracts that can be renewed for the first three years of employment before a permanent position is given can be utilized.
A teacher’s pension is considered a sustainable, secured asset that has the chance of growing depending on the upward mobility available where they work. Often, a teacher’s pension can be utilized towards the affordability of a more favourable mortgage. Even retired teachers can benefit from using a teacher-specific lender that gives them the full scope of affordability options given their pension necessities. In some cases, you may even qualify for special rates should you opt for a teacher-specific lender. As teachers also have access to all standard mortgage schemes, even Buy to Let or Remortgage options may be on the table.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.
It’s essential to look for a mortgage broker that can help weigh up your needs and curate the best package for you. This way, you can search many different alternatives to see how competitive a certain lending strategy may be. Thankfully, because your profession is respected and considered dependable, lenders will often trip over themselves to offer the best rates for you. However, without a mortgage broker to help streamline, simplify, and point out what really matters, it can be easy to fall into a package that seems more reliable than it actually is.
Finding professional mortgages for teachers can be daunting. However, there are many lenders who favour educators due to their job stability and reliable income. While full-time teachers are usually preferred over supply teachers or those on zero-hour contracts, there are special mortgage options available for those on temporary contracts or just starting out. In fact, pension benefits and teacher-specific lenders can also play a role in improving affordability. As authorised and regulated by the Financial Conduct Authority, we serve clients in major cities including Leicester, Market Harborough, Hinckley, Nottingham, Loughborough, Derby, London, Manchester, Leicester and Birmingham. Contact us today to learn more and begin your journey towards a new home!
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Mortgages for Teachers
As a company specialised in providing Teacher Mortgages, we understand the unique financial requirements teachers have. With a range of mortgage types such as first-time buyer, buy-to-let, specialist, commercial, and self-employed mortgages, we offer a solution for all. To add to that, we also provide insurance options including home, income protection, life, and critical illness insurance.
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What our clients have to say
Kam and his team at Airborne have been a real game changer for us. They were understanding of our requirements from the beginning and accessible on the phone throughout the process. We had a fairly complex case, but this didn't stop Kam from finding a tailored solution for us, and we will be using Airborne again moving forward. We highly recommend Airborne to anyone who needs a Mortgage, and you will also gain a valuable friend in Kam - Top Man.
March 12, 2022
Mr Lodhia and Savraj were incredibly professional and prompt with my mortgage. Mr Lodhia was honest, well informed and was able to offer sound advice. I was given options within 24 hours, and they remained supportive throughout the process. I was thoroughly impressed and grateful for all the hard work the team put in!
I highly recommend Airborne to anyone who is looking to buy.
March 12, 2022
My brothers and I were looking to jointly buy our first home and weren’t sure of how to go about it, High street banks couldn’t help us.
A friend recommended Kamlesh at Airborne Mortgage Solutions. He understood what we wanted and advised us on a great mortgage which we completed last week.
Thanks Kamlesh for putting up with our endless questions and being there to help.
Highly recommended to our friends and family.
January 12, 2022
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