If you’ve recently qualified or are about to qualify and embark on your new career as a teacher, you may be wondering what impact your job status has on your mortgage options. This guide explains all you need to know about securing a mortgage as a newly qualified teacher. Strive is a mortgage brokerage specialising in mortgages for teachers and other education professionals.

The challenges of securing a mortgage as a NQT

While the teaching profession is undoubtedly a respectable and reliable profession, there are some aspects that can cause challenges when it comes to securing a mortgage, especially for those who are newly qualified. Some of the challenges include a lower starting salary, short-term contracts, short employment history, and amassed student loans. Some mortgage lenders are more suited to certain professions and income setups than others, and working with a specialist mortgage broker for teachers will ensure you have the best chance of success with your application.

Are newly qualified teacher mortgages available? 

Yes, newly qualified teacher mortgages are available. However, for the most part, when we reference them, we are not talking about mortgage products or lenders that specialise specifically in mortgages for newly qualified teachers. Instead, there are mortgage lenders and products that cater to other professionals, with criteria that are more flexible and understand the nuances some in the teaching profession may experience when securing a mortgage.

For example, there are lenders like the Teachers Building Society that only offer mortgages for teachers. They can be great in some unique situations, but for the most part, there are plenty of other and potentially better options available.

How much can NQT’s borrow?

The amount newly qualified teachers (NQTs) can borrow will depend on their individual circumstances and the options available. As a rule of thumb, mortgage lenders typically lend around 4.5 to 5 times your income plus deposit. Factors in your favour, such as larger deposits, good credit, and higher incomes, can potentially allow you to borrow more. While these are the most common loan-to-income ratios, it’s possible to secure up to 5.5 times your income in the right circumstances.

How Long Do I Need to Have Been Qualified For?

Each lender’s criteria vary. Some may insist on having one month’s payslip on your newly qualified salary, while others may require three months or six months of continuous employment. Some lenders will consider lending as soon as you’ve qualified and received confirmation of your new salary, even before you actually receive it. For example, they may allow you to use it three months prior to receiving it if confirmed in writing and/or by contract.

What Deposit Do Newly Qualified Teacher Mortgages Require?

The deposit required for newly qualified teacher mortgages will depend entirely on your situation. In theory, it is possible to buy with a 5% deposit, or in some rare occasions, there are products that require even less. It’s important to understand that while the criteria may allow for as little as a 5% deposit, you need to be able to secure a mortgage and the lender must feel confident that you can afford the repayments on the remainder of the mortgage.

The larger the deposit, the cheaper the rates and the more options available to you, increasing the likelihood of success with your application. The property type may also play a part; for example, new builds, ex-local authority properties, and flats may sometimes require larger deposits. Those with bad credit may also need larger deposits.

Best lenders for newly qualified teacher mortgages 

This will again depend on your circumstances. For example, if you have a particularly unique case, Teachers Building Society may be a good option. If you are a first-time buyer looking to maximise borrowing, the Nationwide Helping Hand Mortgage can allow up to 5.5 times your income. It really depends on your situation as a whole.

Do Teachers get better mortgage rates?

For the most part, teachers qualify for the same rates as anyone else. On rare occasions, some lenders may offer discounts to key workers. While they do not necessarily qualify for cheaper rates, some schemes are geared towards key workers and may offer priority to them for schemes like shared ownership or the new homes scheme.

First-Time Buyer Mortgages for Teachers

Buying your first home can be daunting. If you’ve recently qualified, you’ll likely have a lot on your plate with your new job coupled with buying your first home. It’s important to make sure you get it right and get the right mortgage advice. As a first-time buyer, assuming reasonable credit and a reasonable level of outgoings, you’ll likely be able to borrow 4-5 times your income or potentially up to 5.5 times, although minimum income levels are usually required to borrow above 5 times. It’s also important to understand the buying costs, such as stamp duty, solicitors’ costs, surveys, mortgage fees, etc.

The impact of student loans on a mortgage 

One of the unfortunate parts about the profession often means you rack up a fairly large student loan debt in the process. While this can have an impact on the amount you can borrow, it may not be as significant as you think. Affordability is based on the monthly commitment rather than the total loan amount as a whole. If you’ve recently qualified, the monthly payments may not be enormous if you are on a relatively modest starting salary. If you have a low overall debt-to-income ratio, it may make no impact; if you have a high debt-to-income ratio, the impact can be greater.

Teachers Mortgage Calculator

Unfortunately, there is no specific mortgage calculator for teachers because there are too many variables and considerations. However, if you get in touch, we can quickly tell you what you may be able to borrow and what the costs are.

What is the process 

  1. Gather Documents: Collect all necessary documents, including proof of ID, address, and income.
  2. Book Appointment: Schedule an appointment with a specialist mortgage broker for teachers.
  3. Source Deals: The broker will source the best mortgage deals suited to your circumstances.
  4. Secure Agreement in Principle (AIP): Obtain an AIP from a lender, indicating how much you can borrow.
  5. View Properties: Start viewing properties within your budget.
  6. Make an Offer: Place an offer on a property and have it accepted.
  7. Submit Full Mortgage Application: After your offer is accepted, submit the full mortgage application with all required documents.

By following these steps, you can navigate the mortgage process efficiently and with confidence.

Specialist mortgage advice for teachers with Strive 

There is a lot to consider when buying a home. Having someone who understands your profession and works closely with specialist teacher mortgage lenders can massively help your chances of securing a mortgage and give you the best chance of securing the best deal. We will help throughout the whole process, not only with the mortgage but also with the property search. We will liaise and source solicitors, surveyors, and assist you from start to finish.

By choosing Strive, you benefit from our expertise and dedication to helping teachers like you achieve your homeownership dreams.


  • Do Teachers Get Special Mortgages?
    • It is possible but rare. There are very few mortgage products specifically designed for teachers. However, many lenders cater to newly qualified and experienced teachers with criteria that are more flexible and understanding of the teaching profession’s unique challenges, such as variable income or short-term contracts.

  • Is Teachers Building Society a Good Mortgage Lender?
    • Teachers Building Society can be a good option, especially for teachers, as they understand the specific needs and circumstances of the profession. However, it’s important to shop around and compare different lenders to ensure you get the best deal for your situation. Other lenders might offer competitive rates and terms that could be more favourable depending on your circumstances.
  • Can Supply Teachers Get a Mortgage?
    • Yes, supply teachers can get a mortgage. If you are not in a permanent position, you may need to demonstrate a minimum period of employment to show consistent average earnings over time. Lenders will look for stability in your income, so having a track record of continuous employment as a supply teacher can improve your chances.
  • Can I Get a Mortgage as a Substitute Teacher?
    • Yes, substitute teachers can get a mortgage. Similar to supply teachers, if you are not in a permanent role, you will likely need to show a minimum period of employment to demonstrate average earnings over a certain period. Lenders want to ensure that you have a reliable income stream to manage mortgage repayments.
  • Can I Get a Mortgage as a Teacher with Bad Credit?
    • Yes, it is possible to get a mortgage as a teacher with bad credit, though you may face higher interest rates and may be able to borrow less. Some specialist lenders focus on providing mortgages to individuals with poor credit histories. Consulting with a specialist mortgage broker for teachers can help you find lenders willing to work with your credit situation and guide you on how to improve your mortgage application.
  • Can I Get a Mortgage with a Fixed Term or Temporary Teaching Contract?
    • Yes, you can get a mortgage with a fixed-term or temporary teaching contract. Having a history of previous contracts or a significant period remaining on your current contract can be beneficial. Lenders look for stability and assurance that you will have continuous income. Speaking to a specialist mortgage broker who understands the teaching profession can help you navigate the mortgage application process and improve your chances of approval.

Contact us todayand we’ll work hard on your behalf to find you a competitive mortgage.

For more information on mortgages for contractors, please contact a member of the Strive team, by emailing [email protected] or call us on 01273 002697.