You’re soon to qualify or you've recently qualified as a teacher...
That’s amazing! First off, a huge congratulations to you. We’re sure you will have so many thoughts buzzing around your head- Where will your first job be? What will your new school and class be like? Where will you live?
We would love to be able to help you with all of those conundrums, but as a teacher specialist mortgage lender the way we can help you best is with a first home purchase. Here’s how our mortgages are ECT friendly.
1. No need for payslips
Secured your first teaching position but haven’t yet started your post? No problem. We don’t expect you be able to provide 3+ months of payslips in order to get going with your mortgage application. All we would need to take a look at is some sort of confirmation from your school of your upcoming employment (such as a letter). We’re here to hoist you up, not hold you back.
2. Only one teacher needed per application
3. Our best rates are for you
We set aside our best mortgage rates exclusively for qualified teachers. Check out our website for our current available deals.
4. 95% mortgages are available
We know all too well how tricky it can be to save up for a deposit for your first home. That’s why we have mortgage products designed specifically with ECTs in mind so you may be able to hop on that property ladder sooner than you initially thought. We can lend to borrowers with a deposit of just 5%.
5. 40 year mortgages
A longer mortgage term = lower monthly payments. 40 years might sound looong but if it makes your mortgage payments more affordable, we’re here for it. There’s always the option to reduce your term when you get to remortgaging so it’s not necessarily forever.
6. Skip the fee
From looking around the mortgage marketplace, you will probably have seen lots of ‘fees’ popping up all over the shop. We provide fee free mortgage deals for our favourite professionals (that’s you).
7. Consistency is key
We know it can be frustrating when you need to explain your situation to multiple people at the same company, which is why your case will be allocated to one of our lovely UK-based Mortgage Advisors, and they will remain your key point of contact until you move into your new home (and beyond!).
8. Buyers Club
The mortgage process can seem daunting at times. Sometimes it is just nice to know you are not alone and that many other ECTs are in a similar situation. We have almost 3,000 teacher members in our 2023 and 2024+ Buyers Clubs on Facebook. Sign up today via our Facebook page and get access to insights, tips and exclusive content which can alleviate some of the mystery surrounding mortgages.
9. Out of hours
It can be tricky to fit in life admin when work admin takes up your whole day. You can request out of hours/weekend appointments with our dedicated team of mortgage advisors and they will do their absolute best to book in a slot that suits you.
10. Exclusive teacher-only savings accounts
We have a range of savings account options to provide a secure home for your deposit, and what’s more, our best savings rates are reserved for teachers. Because we’re a specialist teacher mortgage lender, when you chose to save with us you are also directly helping us lend to fellow teachers so they can buy their first homes too. We think that’s something special.
More mortgage guides you may find helpful...
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