Getting a Mortgage as a Newly Qualified Teacher in Birmingham (NQT)

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 have to move 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.

Mortgage Advice for NQTs 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:
• Shared ownership.
• Variable-rate mortgages.
• Help to buy schemes.
• Fixed-rate mortgages.

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 we can help | Mortgage Advisors in Birmingham

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.

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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.
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www.financial-ombudsman.org.uk

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