Mortgages for Newly Qualified Teachers in Hull

Newly Qualified Teachers in Hull

Nowadays we find that the majority of schools only offer newly qualified teachers (NQT’s) a 12-month initial contract as standard. This can become quite the issue for any teachers looking to get onto the property ladder. The reason this becomes an issue, is because most of the high street mortgage lenders will see them as being a “contract worker”.

Due to this factor, taking out a mortgage as a teacher will require you to have been in your role for 12 months. Luckily, some smaller lenders are sympathetic towards these circumstances and may consider your application without a 12 month history.

Things to be considered:

• You are not required to have any previous experience in the role, so it’s fine if you have been studying and this is your first year as a fully qualified teacher.
• A 12-month first post-contract can be treated the same as a permanent role.
• Mortgages are 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 get in touch and we will book you in with an experienced mortgage advisor in Hull. Whether you are a first-time buyer, home mover or looking to remortgage, we will do our best to help.

Mortgage Advice in Hull