Mortgages for Newly Qualified Teachers in Hull

Congratulations are in order! You have finished all of your required exams on route to your goal of becoming a Newly Qualified Teacher in Hull. The step for you to take next is to find a classroom job and make use of your brand new qualifications!

As a result of your circumstances, it may be necessary for you to look at moving home in Hull, if perhaps you are currently living in a home that is located much further away from your new job than is commutable.

Eventually you could be in a position where you are looking for a new home, whilst also trying to manage the difficult balance of being a homeowner, whilst also finding your feet in your new role. It can feel like you’re starting two new chapters in your life, at once.

This is not something that you are alone in, however, as this is something we have spoken about with many different customers over the years, helping them to reduce their stress levels and taking on the bulk of the mortgage work on their behalf, whilst they put their mind to their new career.

Newly Qualified Teacher Mortgages

From time to time, prospective home buyers might find it a little difficult trying to find a mortgage lender who is willing to lend to a newly qualified teacher in Hull.

One of the biggest factors in this occurring, is down to the fact that as a newly qualified teacher, you will likely have no work history, or will be working on a temporary contract.

Even with this in mind, it’s not entirely impossible for a newly qualified to apply for, and successfully obtain a mortgage. Our fast and friendly team of mortgage advisors in Hull have a lot of experience in helping customers to achieve their goals, as a mortgage broker in Hull.

Every now and again, you will find that there are specialist mortgage lenders who offer very specific and niche mortgage deals to people who are working in particular sectors, such as to newly qualified teachers in Hull.

The best way to achieve mortgage success, is to apply with the most suitable mortgage lender for your circumstances, with the best deal that is available to you. Quite often this can be the hardest part of the mortgage process and once you’re past that, it is much smoother sailing.

In this type of scenario, it can be incredibly handy to have an experienced team who provide expert mortgage advice in Hull, to search through thousands of mortgage deals, in order to find you the absolutely best one for the criteria you match up with.

What mortgages for NQT teachers may be available?

It is always important to remember that whilst the process can be challenging for some newly qualified teachers, you are not completely restricted and there are still plenty of mortgage options available to you.

Below is a small selection of the most commonly encountered mortgage types that we have come across with newly qualified teachers in Hull. There may still be options further than these, depending on your mortgage lender;

  • Help to Buy in Hull – This is a government ran scheme with the intention of helping first time buyers in Hull to purchase a new build property.
  • Fixed-Rate Mortgages – Often one of the most requested mortgages, this allows your monthly mortgage payments to be consistent for a chosen number of years.
  • Shared Ownership Mortgages – This allows your mortgage balance to be paid as part rent (to a third party), part mortgage (to the mortgage lender), which in turn can make repaying your mortgage easier.
  • Tracker Mortgages – A variation of a variable rate, tracker mortgages see the interest rate on your mortgage following the Bank of England’s base rate, whether that goes up or down.

Your mortgage lender may want to look at some other factors during your mortgage application process as well. You might find that some mortgage lenders will not be required to see previous employment history, whilst allowing you to have access up to a 95% loan to value.

On top of this, there may also be some mortgage lenders, who could see a 12-month first contract in the same way as a permanent job role, instead of treating it as temporary work, which can be commonplace with other mortgage lenders.

Lastly, you might find that some mortgage lenders out there are more than willing to start your mortgage process before your official work start date, providing you can give them sufficient evidence of a signed contract and an agreed upon start date.

This can actually be very useful for you, as it is entirely possible that your first months wage is due to come in just as your first mortgage payment is due, meaning you are ready to go with your mortgage term.

How a Mortgage Advisor in Hull May Help

Our team of dedicated and experienced mortgage advisors in Hull have a great deal of knowledge from their time working in the mortgage industry, helping all kinds of different home buyers with their unique and personal mortgage circumstances.

From what we have written, you will also hopefully see the positives in using the services of a mortgage broker in Hull, to help match you with the most appropriate mortgage lender on our panel. A mortgage advisor in Hull will search thousands of deals, work to reduce your stress and so much more.

If you want to learn more about the types of different mortgage options you might have available as a newly qualified teacher in Hull who is ready to buy a home, feel free to get booked in for a free mortgage appointment today, with a trusted mortgage advisor in Hull.

Newly Qualified Teacher Mortgage Advice in Hull


Last edited 06/10/2022

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