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first-time buyer
mortgages for education professionals

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0800 378 669 >

Teachers Building Society was set up in 1966 to help teachers get onto the property ladder. ​We work hard to help a range of education professionals own their own homes, from trainee teachers and NQTs right through to teachers in retirement. 

Questions about getting a first-time buyer mortgage or how the process works? Let us ​demystify mortgages for you in just 10 minutes. 

10 MINUTE MORTGAGE HEALTH​ CHECK

  • Find out more about the mortgage process or how much we may be able to lend you
  • Ask us anything - there's no such thing as a silly question
  • Answer a few simple questions to see if you are eligible for a mortgage
  • ​Call us directly or choose a time to be contacted
 

THE BENEFITS OF A CALL WITH A TEACHERS ADVISOR

  • We are a small, friendly team of experienced advisors
  • We will provide you with one dedicated advisor to guide you through the process
  • ​We understand teaching contracts and pay scales
  • We will not perform a credit check until later in the process with your explicit consent
 

5% ​Deposit ​Mortgage ​Product ​Options

Newly Qualified Teacher Exclusive, 5 Year Fixed Rate Mortgage 5% Deposit 3.99% Fixed
3.99% 5.24% 4.8% APRC 95% N/A £199

Key Features

Fixed rate

A fixed rate of 3.99% for the first 5 years (fixed until 14/06/2025). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 4.8% APRC.

What you Pay

  • Daily interest.
  • An application fee of £199 (non-refundable) is payable with the application.
  • A valuation fee is payable for all properties worth £800,000 or more.

Early repayment charge

An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

What we Pay

  • The first valuation fee for properties worth less than £800,000.
  • £100 cashback for NEU members upon completion.

Who can apply and more information

  • Available for home purchase applications only.
  • At least one applicant must be a newly qualified teacher (NQT).

Your home may be repossessed if you do not keep up repayments on your mortgage

Representative Example

A mortgage of £172,000.00 over 27 years initially on a fixed rate of 3.99% (Ending on 14 June 2025) and then our Standard Variable Rate of 5.24% for the remaining term, would require 61 monthly payments of £867.99 and 263 monthly payments of £970.22.

The total amount payable would be £308,443.06 made up of the loan amount plus interest (£136,134.06) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

The overall cost for comparison is 4.8% APRC representative.

Call us today on 0800 378 669

This product may be withdrawn or amended at any time, without prior notice

Newly Qualified Teacher Exclusive, 5 Year Fixed Rate Remortgage 5% Deposit 3.99% Fixed
3.99% 5.24% 4.8% APRC 95% N/A £199

Key Features

Fixed rate

A fixed rate of 3.99% for the first 5 years (fixed until 14/06/2025). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 4.8% APRC.

What you Pay

  • Daily interest.
  • An application fee of £199 (non-refundable) is payable with the application.
  • A valuation fee is payable for all properties worth £800,000 or more.

Early repayment charge

An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

What we Pay

  • The first valuation fee for properties worth less than £800,000.
  • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.

Who can apply and more information

  • Available for remortgage applications only.
  • At least one applicant must be a newly qualified teacher (NQT).

Your home may be repossessed if you do not keep up repayments on your mortgage

Representative Example

A mortgage of £172,000.00 over 27 years initially on a fixed rate of 3.99% (Ending on 14 June 2025) and then our Standard Variable Rate of 5.24% for the remaining term, would require 61 monthly payments of £867.99 and 263 monthly payments of £970.22.

The total amount payable would be £308,443.06 made up of the loan amount plus interest (£136,134.06) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

The overall cost for comparison is 4.8% APRC representative.

Call us today on 0800 378 669

This product may be withdrawn or amended at any time, without prior notice

Teacher Exclusive, 2 Year Fixed Rate Mortgage 5% Deposit 3.94% Fixed
3.94% 5.24% 5.1% APRC 95% N/A £199

Key Features

Fixed rate

A fixed rate of 3.94% for the first 2 years (fixed until 14/07/2022). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 5.1% APRC.

What you Pay

  • Daily interest.
  • An application fee of £199 (non-refundable) is payable with the application.
  • A valuation fee is payable for all properties worth £800,000 or more.
  • Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback for NEU members upon completion.

    Who can apply and more information

    • Available for home purchase applications only.
    • At least one applicant must be a qualified teacher or lecturer.

    Your home may be repossessed if you do not keep up repayments on your mortgage

    Representative Example

    A mortgage of £172,000.00 over 27 years initially on a fixed rate of 3.94% (Ending on 14 July 2022) and then our Standard Variable Rate of 5.24% for the remaining term, would require 26 monthly payments of £863.17 and 298 monthly payments of £982.20.

    The total amount payable would be £315,465.60 made up of the loan amount plus interest (£143,156.60) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.1% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 2 Year Fixed Rate Remortgage 5% Deposit 3.94% Fixed
    3.94% 5.24% 5.1% APRC 95% N/A £199

    Key Features

    Fixed rate

    A fixed rate of 3.94% for the first 2 years (fixed until 14/07/2022). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.1% APRC.

    What you Pay

  • Daily interest.
  • An application fee of £199 (non-refundable) is payable with the application.
  • A valuation fee is payable for all properties worth £800,000 or more.
  • Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback for NEU members upon completion.
    • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.

    Who can apply and more information

    • Available for remortgage applications only.
    • At least one applicant must be a qualified teacher or lecturer.

    Your home may be repossessed if you do not keep up repayments on your mortgage

    Representative Example

    A mortgage of £172,000.00 over 27 years initially on a fixed rate of 3.94% (Ending on 14 July 2022) and then our Standard Variable Rate of 5.24% for the remaining term, would require 26 monthly payments of £863.17 and 298 monthly payments of £982.20.

    The total amount payable would be £315,465.60 made up of the loan amount plus interest (£143,156.60) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.1% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 2 Year Variable Rate Mortgage 5% Deposit 3.24% Variable
    3.24% 5.24% 5.0% APRC 95% N/A £199

    Key Features

    Variable rate

    A variable rate, currently 3.24%, which is discounted by 2.00% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.0% APRC representative.

    What you Pay

    • Daily interest.
    • An application fee of £199 (non-refundable) is payable with the application.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000
    • £100 cashback for NEU members upon completion.

    Who can apply and more information

    • Available for home purchase applications only.
    • At least one applicant must be a qualified teacher or lecturer.

    Your home may be repossessed if you do not keep up repayments on your mortgage

    Representative Example

    A mortgage of £172,000.00 over 27 years initially on a discounted variable rate of 3.24% (equal to a 2.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.24% for the remaining term, would require 24 monthly payments of £797.17 and 300 monthly payments of £979.91.

    The total amount payable would be £313,429.35 made up of the loan amount plus interest (£141,120.35) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.0% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 5 Year Fixed Rate Mortgage 5% Deposit 3.99% Fixed
    3.99% 5.24% 4.8% APRC 95% N/A £199

    Key Features

    Fixed rate

    A fixed rate of 3.99% for the first 5 years (fixed until 14/06/2025). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 4.8% APRC.

    What you Pay

    • Daily interest.
    • An application fee of £199 (non-refundable) is payable with the application.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

     

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback for NEU members upon completion.

    Who can apply and more information

    • Available for home purchase applications only.
    • At least one applicant must be a qualified teacher or lecturer.

    Your home may be repossessed if you do not keep up repayments on your mortgage

    Representative Example

    A mortgage of £172,000.00 over 27 years initially on a fixed rate of 3.99% (Ending on 14 June 2025) and then our Standard Variable Rate of 5.24% for the remaining term, would require 61 monthly payments of £867.99 and 263 monthly payments of £970.22.

    The total amount payable would be £308,443.06 made up of the loan amount plus interest (£136,134.06) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 4.8% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, 5 Year Fixed Rate Remortgage 5% Deposit 3.99% Fixed
    3.99% 5.24% 4.8% APRC 95% N/A £199

    Key Features

    Fixed rate

    A fixed rate of 3.99% for the first 5 years (fixed until 14/06/2025). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 4.8% APRC.

    What you Pay

    • Daily interest.
    • An application fee of £199 (non-refundable) is payable with the application.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.

    Who can apply and more information

    • Available for remortgage applications only.
    • At least one applicant must be a qualified teacher or lecturer.

    Your home may be repossessed if you do not keep up repayments on your mortgage

    Representative Example

    A mortgage of £172,000.00 over 27 years initially on a fixed rate of 3.99% (Ending on 14 June 2025) and then our Standard Variable Rate of 5.24% for the remaining term, would require 61 monthly payments of £867.99 and 263 monthly payments of £970.22.

    The total amount payable would be £308,443.06 made up of the loan amount plus interest (£136,134.06) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 4.8% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, Shared Ownership, 2 Year Fixed Rate Mortgage 5% Deposit 3.69% Fixed
    3.69% 5.24% 5.1% APRC 95% N/A £199

    Key Features

    Fixed rate

    A fixed rate of 3.69% for the first 2 years (fixed until 14/03/2022). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 5.1% APRC.

    What you Pay

  • Daily interest.
  • An application fee of £199 (non-refundable) is payable with the application.
  • A valuation fee is payable for all properties worth £800,000 or more.
  • Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback for NEU members upon completion.

    Who can apply and more information

    • Available for Shared Ownership home purchase applications only.
    • Available to teachers only.

    Your home may be repossessed if you do not keep up repayments on your mortgage

    Representative Example

    A mortgage of £172,000.00 over 27 years initially on a fixed rate of 3.69% (Ending on 14 March 2022) and then our Standard Variable Rate of 5.24% for the remaining term, would require 25 monthly payments of £839.27 and 299 monthly payments of £981.00.

    The total amount payable would be £314,627.14 made up of the loan amount plus interest (£142,318.14) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 5.1% APRC representative. 

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    Teacher Exclusive, Shared Ownership, 5 Year Fixed Rate Mortgage 5% Deposit 3.74% Fixed
    3.74% 5.24% 4.8% APRC 95% N/A £199

    Key Features

    Fixed rate

    A fixed rate of 3.74% for the first 5 years (fixed until 14/01/2025). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 4.8% APRC.

     

    What you Pay

    • Daily interest.
    • An application fee of £199 (non-refundable) is payable with the application.
    • A valuation fee is payable for all properties worth £800,000 or more.

    Early repayment charge

    An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.

    What we Pay

    • The first valuation fee for properties worth less than £800,000.
    • £100 cashback for NEU members upon completion.

    Who can apply and more information

    • Available for Shared Ownership home purchase applications only.
    • Available to teachers only.

    Your home may be repossessed if you do not keep up repayments on your mortgage

    Representative Example

    A mortgage of £172,000.00 over 27 years initially on a fixed rate of 3.74% (Ending on 14 January 2025) and then our Standard Variable Rate of 5.24% for the remaining term, would require 59 monthly payments of £844.02 and 265 monthly payments of £967.22.

    The total amount payable would be £306,437.12 made up of the loan amount plus interest (£134,128.12) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 4.8% APRC representative.

    Call us today on 0800 378 669

    This product may be withdrawn or amended at any time, without prior notice

    WE ​​WILL CONSIDER LENDING TO:


    • NQTs up to 2 months before starting work
    • Teachers with just a 5% deposit
    • Teachers in retirement up to age of 83
    • Contract and supply teachers
    • Teachers looking to buy via Help to Buy

    Give us a call

    0800 378 669 >

    Request a callback.

    Click here >
    YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE