Mortgage Advice in Derby for Newly Qualified Teachers

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Newly Qualified Teacher Mortgages

What sort of mortgage for NQT is available?

How a Mortgage Advisor in Derby May Help

Well done on your achievement of passing all the necessary plans and steps to now becoming a newly qualified teacher. It’s now time to find a teaching position and begin your dream job.

In some circumstances, teachers find there dream teaching job that requires them to relocate to Derby. You may already own your own home and could require the help and support of a Mortgage Broker in Derby.

The juggling act of starting a new teaching role whilst being in the process of homeownership can make customers stressed and a little overwhelmed.

Here at Derbymoneyman, we have a team of Mortgage Advisors in Derby who work hard towards making the process a lot smoother and quicker to provide you with some peace of mind.

Newly Qualified Teacher Mortgages

The most common obstacle that comes with being a newly qualified teacher who wants a mortgage is locating a lender who is willing to offer you a mortgage in your circumstances. The reason for this is that being NQT does come with having little to no work history or being on a temporary contract.

You may find that some lenders will offer great deals to individuals that work within the teaching industry, this is where a mortgage broker could help with scoping these out. As a Mortgage Broker in Derby, we have access to a large panel of lenders which allows us to search thousands of deals so we can match your circumstances to the right lender’s criteria.

What sort of mortgage for NQT is available?

The most common mortgages that are used by many newly qualified teachers include:

• Shared Ownership in Derby
• Variable-Rate Mortgages
• Fixed-Rate Mortgages

Below are some things that lenders may consider during your process

• 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

How a Mortgage Advisor in Derby May Help

We have years of experience providing open and honest Mortgage Advice in Derby that has helped individuals with various circumstances to get onto the property ladder.

As a first time buyer in Derby, you may find the process daunting which is why seeking out the help of a reputable mortgage can be in achieving your mortgage goals.

For further information, get in touch with our team or book online for your free initial mortgage appointment. Here, we can get to know your financial situation to check your eligibility, lay out your mortgage aims and advise you on the best route to go down to increase your chances of obtaining a mortgage in your circumstances.

Date Last Edited: February 20, 2024