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Mortgages for Newly Qualified Teachers (NQT’s) | Mortgage Advice in Durham

Mortgage Advice for Newly Qualified Teachers

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 buy a property as a First Time Buyer in Durham. This is 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 a First Time Buyer’s application without the 12-month history. On the other hand, you could consider a Help to Buy scheme in Durham.

Things to consider:

  • 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 for Specialist Mortgage Advice in Durham.


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Authorised and Regulated by the Financial Conduct Authority.
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The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

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