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Mortgages for Newly Qualified Teachers (NQT’s) in Leicester

Teacher Mortgages in Leicester

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 be a First Time Buyer in Leicester. 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 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 and speak to one of our Mortgage Advisors in Leicester today.

Leicestermoneyman.com & Leicestermoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.

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