Getting a Mortgage as a Newly Qualified Teacher in Birmingham

Congratulations, you have just passed your exams and are now a newly qualified teacher. You have found your dream teaching position and are ready to get started in the classroom, but it means you’ll be looking to Move Home to Birmingham. From this, you are now beginning the exciting yet stressful process of finding a place to move to whilst beginning your new teaching role. The good news is that you are not the only person in this situation.

NQTs Mortgage Advice in Birmingham

It can be difficult to find a lender who is looking to offer a mortgage to newly qualified teachers. This is because newly qualified teachers have no work history, or have been on temporary contracts. Don’t worry though, it is still possible to get a mortgage as a newly qualified teacher. You might find that various lenders may lend with some even offering reasonable deals to those working in the education section.

What mortgages for NQT teachers are available?

Below is a list of various types of mortgages that are available to NQTs:

• You may be eligible to fit the criteria for a Shared Ownership Birmingham, our Mortgage Advisors in Birmingham can check your eligibility.
• Variable-rate mortgages.
• There are many different Help to Buy Mortgages Birmingham, some of which you may be elibile for.
• Some people prefer to know how much their monthly mortgage payments will be. If this applies to you, then a fixed rate mortgage Birmingham will be suitable for yourself.

Different Thing to Consider

When it comes to obtaining a mortgage as a NQT, here is a list that as a Mortgage Broker in Birmingham we feel you should considered:

• No previous employment history required,
• A 12-month first post-contract can get treated the same as a permanent role,
• Mortgages available up to one month before starting the first contract,
• 95% loan to value.

How Our Mortgage Advisors in Birmingham Can Help

Here at Birminghammoneyman, we have a team of Mortgage Advisors in Birmingham who have extensive knowledge about the lending criteria and they have many years under their belt helping many people with their mortgage situations.

If you are a newly qualified teacher that’s looking to begin their mortgage journey, get in touch with us. We will take some details from you and look at the options available as well as see if you are eligible for a mortgage.

The Different Costs of Buying a Property in Birmingham

Buying a property can be the most expensive commitment of your life, therefore, it’s important that you know exactly what you’re paying for. All of the different costs of buying a home in Birmingham can blend into one if you’re not careful, and you may be paying more for some parts of the process than you originally thought, which is why we’ve broken down those costs into an article.

Date Last Edited - 12/05/2022