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 because most of the High Street Mortgage lenders will class them as a “Contract Worker” and as such 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 the 12-month history. Some of the key things that can be considered are as follows:
If you are a newly qualified teacher and would like to discuss your mortgage options then please don’t hesitate to contact us.