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. 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 an application without the 12-month history.
If you are a newly qualified teacher and would like to discuss your mortgage options then please don’t hesitate to contact us as we are able to offer Specialist Mortgage Advice in Derby.