Teacher Exclusives

Our teacher-exclusive mortgages are available to education professionals who hold a qualified teacher status anywhere in England and Wales.

If you need any help or advice at any stage during the process, we have a friendly and knowledgeable team waiting to help you.

 

​​Variable Rate

Teacher Exclusive, 2 Year Variable Rate Mortgage 5% Deposit 2.49% Variable
2.49% 5.24% 5.0% APRC 95% £999 £99

Key Features

Variable rate

A variable rate, currently ​2.​49%, which is discounted by 2.75% 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 £99 (non-refundable) is payable with the application.
  • An arrangement fee of £999 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 £157,000 over 29 years initially on a discounted variable rate of 2.49% (equal to a 2.75% discount off our SVR) for 2 years and then on our Standard Variable Rate of 5.24% for the remaining term, would require 24 monthly payments of £633.92 and 324 monthly payments of £862.54.

The total amount payable would be £296,013.27 made up of the loan amount plus interest (£137,687.77) with a funds transfer fee of £25, mortgage application fee of £99, mortgage arrangement fee of £999, legal fees of £117.50 and a mortgage exit fee of £85.

The overall cost for comparison is 5.0% APRC representative.

Call us today on 0800 378 669

Full Mortgage Details
Arrange a call back

This product may be withdrawn or amended at any time, without prior notice
Teacher Exclusive, 2 Year Variable Rate Mortgage 5% Deposit 2.79% Variable
2.79% 5.24% 5.0% APRC 95% N/A £99

Key Features

Variable rate

A variable rate, currently ​​2.79%, which is discounted by ​​2.45% 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 £99 (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 £157,000 over 29 years initially on a discounted variable rate of ​2.79% (equal to a ​2.45% discount off our SVR)  for 2 years and then on our Standard Variable Rate of 5.24% for the remaining term, would require 24 monthly payments of £​658.51 and 324 monthly payments of £​864.47.

The total amount payable would be £​296,231.05 made up of the loan amount plus interest (£1​38,904.55) with a funds transfer fee of £25, mortgage application fee of £99, legal fees of £117.50 and a mortgage exit fee of £85.

The overall cost for comparison is 5.0% APRC representative.

Call us today on 0800 378 669

Full Mortgage Details
Arrange a call back

This product may be withdrawn or amended at any time, without prior notice

​Fixed Rate

Teacher Exclusive, 5 Year Fixed Rate Mortgage 5% Deposit 4.64% Fixed
4.64% 5.24% 5.1% APRC 95% N/A £99

Key Features

Fixed rate

A fixed rate of ​4.64% for the first 5 years (fixed until 14/​​02/2024). 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 £99 (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.
  • Available to teachers only.

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

Representative Example

A mortgage of £157,000 over 29 years initially on a fixed rate of 4.64% (ending on 14th ​February 202​4) and then our Standard Variable Rate of 5.24% for the remaining term, would require ​60 monthly payments of £​821.54 and 288 monthly payments of £867.98.

The total amount payable would be £299,​677.18 made up of the loan amount plus interest (£142,372.68) with an application fee of £99, a funds transfer fee of £25, legal fees of £117.50 and a mortgage exit fee of £85.

The overall cost for comparison is 5.1% APRC representative.

Call us today on 0800 378 669

Full Mortgage Details
Arrange a call back

This product may be withdrawn or amended at any time, without prior notice
Teacher Exclusive, Shared Ownership, 2 Year Fixed Rate Mortgage 5% Deposit 3.84% Fixed
3.84% 5.24% 5.1% APRC 95% N/A £99

Key Features

Fixed rate

A fixed rate of ​3.84% for the first ​2 years (fixed until 14/​​04/2021). 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 £99 (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, we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.
    • £100 cashback for NEU members upon completion.

    Who can apply and more information

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

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

    Representative Example

    A mortgage of £157,000 over 29 years initially on a fixed rate of 3.84% (ending on 14th April 2021) and then our Standard Variable Rate of 5.24% for the remaining term, would require 25 monthly payments of £748.69 and 323 monthly payments of £868.95.

    The total amount payable would be £299,613.67 made up of the loan amount plus interest (£142,287.17) with a funds transfer fee of £25, mortgage application fee of £99, legal fees of £117.50 and a mortgage exit fee of £85.

    The overall cost for comparison is 5.1% APRC representative.

    Call us today on 0800 378 669

    Full Mortgage Details
    Arrange a call back

    This product may be withdrawn or amended at any time, without prior notice
    Teacher Exclusive, Shared Ownership, 5 Year Fixed Rate Mortgage 5% Deposit 4.35% Fixed
    4.35% 5.24% 5.0% APRC 95% N/A £99

    Key Features

    Fixed rate

    A fixed rate of ​4.35% for the first 5 years (fixed until 14/​​02/2024). 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.

     

    What you Pay

    • Daily interest.
    • An application fee of £99 (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, we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.
    • ​£100 cashback for NEU members upon completion.

    Who can apply and more information

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

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

    Representative Example

    A mortgage of £157,000 over 29 years initially on a fixed rate of 4.35% (ending on 14th February 2024) and then our Standard Variable Rate of 5.24% for the remaining term, would require 59 monthly payments of £794.73 and 289 monthly payments of £864.44.

    The total amount payable would be £297,057.51 made up of the loan amount plus interest (£139,731.01) with a funds transfer fee of £25, mortgage application fee of £99, legal fees of £117.50 and a mortgage exit fee of £85.

    The overall cost for comparison is 5.0% APRC representative.

    Call us today on 0800 378 669

    Full Mortgage Details
    Arrange a call back

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

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