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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.

Due to unprecedented demand, we’re temporarily restricting our lending to a max LTV of 90%. We thank you for your continued support.

Teacher Exclusive, 2 Year Variable Rate Mortgage 20% Deposit 2.89% Variable
2.89% 4.89% 4.7% APRC 80% N/A £199

Key Features

Variable rate

A variable rate, currently 2.89%, 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 4.89%, and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 4.7% 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 upon completion of your mortgage, if either or both applicants are NEU members.

Who can apply and more information

  • Available for home purchase and remortgage applications.
  • 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 £197,194.00 over 29 years initially on a discounted variable rate of 2.89% (equal to a 2.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 4.89% for the remaining term, would require 24 monthly payments of £837.53 and 324 monthly payments of £1047.29.

The total amount payable would be £359,747.33 made up of the loan amount plus interest (£162,244.33) 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 4.7% 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This product may be withdrawn or amended at any time, without prior notice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 Remortgage 20% Deposit 2.89% Variable
2.89% 4.89% 4.7% APRC 80% N/A £199

Key Features

Variable rate

A variable rate, currently 2.89%, 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 4.89%, and remains on our variable rate terms for the rest of the mortgage.

The overall cost for comparison is 4.7% 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
  • 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.
  • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

Who can apply and more information

  • Available for remortgage applications.
  • 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 £197,194.00 over 29 years initially on a discounted variable rate of 2.89% (equal to a 2.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 4.89% for the remaining term, would require 24 monthly payments of £837.53 and 324 monthly payments of £1047.29.

    The total amount payable would be £359,747.33 made up of the loan amount plus interest (£162,244.33) 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 4.7% 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 10% Deposit 3.74% Fixed
    3.74% 4.89% 4.8% APRC 90% £800 £199

    Key Features

    Fixed rate

    A fixed rate of 3.74% for the first 2 years (fixed until 14/05/2024). It then changes to our Standard Variable Rate, which is currently 4.89%, 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.
  • An arrangement fee of £800 (refundable if mortgage cannot complete).
  • 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 upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • 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 £197,194.00 over 29 years initially on a fixed rate of 3.74% (Ending on 14 May 2024) and then our Standard Variable Rate of 4.89% for the remaining term, would require 35 monthly payments of £929.23 and 313 monthly payments of £1048.09.

    The total amount payable would be £361,704.49 made up of the loan amount plus interest (£163,401.49) with a Application Fee of £199.00, Arrangement Fee of £800.00, 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 Remortgage 10% Deposit 3.74% Fixed
    3.74% 4.89% 4.8% APRC 90% £800 £199

    Key Features

    Fixed rate

    A fixed rate of 3.74% for the first 2 years (fixed until 14/05/2024). It then changes to our Standard Variable Rate, which is currently 4.89%, 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.
  • An arrangement fee of £800 (refundable if the mortgage cannot complete).
  • 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.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • 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 £197,194.00 over 29 years initially on a fixed rate of 3.74% (Ending on 14 May 2024) and then our Standard Variable Rate of 4.89% for the remaining term, would require 35 monthly payments of £929.23 and 313 monthly payments of £1048.09.

    The total amount payable would be £361,704.49 made up of the loan amount plus interest (£163,401.49) with a Application Fee of £199.00, Arrangement Fee of £800.00, 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 Variable Rate Mortgage 10% Deposit 2.99% Variable
    2.99% 4.89% 4.7% APRC 90% N/A £199

    Key Features

    Variable rate

    A variable rate, currently 2.99%, which is discounted by 1.90% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 4.7% 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 upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • 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 £197,194.00 over 29 years initially on a discounted variable rate of 2.99% (equal to a 1.90% discount off our SVR) for 2 years and then our Standard Variable Rate of 4.89% for the remaining term, would require 24 monthly payments of £848.05 and 324 monthly payments of £1048.04.

    The total amount payable would be £360,243.35 made up of the loan amount plus interest (£162,740.35) 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 4.7% 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 10% Deposit 2.99% Variable
    2.99% 4.89% 4.7% APRC 90% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.99%, which is discounted by 1.90% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 4.7% APRC representative.

    What you Pay

    • Daily interest.
    • 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 upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • 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 £197,194.00 over 29 years initially on a discounted variable rate of 2.99% (equal to a 1.90% discount off our SVR) for 2 years and then our Standard Variable Rate of 4.89% for the remaining term, would require 24 monthly payments of £848.05 and 324 monthly payments of £1048.04.

    The total amount payable would be £360,044.35 made up of the loan amount plus interest (£162,740.35) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 4.7% 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 Remortgage 10% Deposit 2.99% Variable
    2.99% 4.89% 4.7% APRC 90% N/A £199

    Key Features

    Variable rate

    A variable rate, currently 2.99%, which is discounted by 1.90% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 4.7% 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.
    • 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.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • 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 £197,194.00 over 29 years initially on a discounted variable rate of 2.99% (equal to a 1.90% discount off our SVR) for 2 years and then our Standard Variable Rate of 4.89% for the remaining term, would require 24 monthly payments of £848.05 and 324 monthly payments of £1048.04.

    The total amount payable would be £360,243.35 made up of the loan amount plus interest (£162,740.35) 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 4.7% 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 Remortgage 10% Deposit 2.99% Variable
    2.99% 4.89% 4.7% APRC 90% N/A N/A

    Key Features

    Variable rate

    A variable rate, currently 2.99%, which is discounted by 1.90% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 4.7% APRC representative.

    What you Pay

    • Daily interest.
    • 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.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • 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 £197,194.00 over 29 years initially on a discounted variable rate of 2.99% (equal to a 1.90% discount off our SVR) for 2 years and then our Standard Variable Rate of 4.89% for the remaining term, would require 24 monthly payments of £848.05 and 324 monthly payments of £1048.04.

    The total amount payable would be £360,044.35 made up of the loan amount plus interest (£162,740.35) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 4.7% 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 10% Deposit 3.79% Fixed
    3.79% 4.89% 4.6% APRC 90% £800 £199

    Key Features

    Fixed rate

    A fixed rate of 3.79% for the first 5 years (fixed until 14/07/2026). It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 4.6% APRC.

    What you Pay

    • Daily interest.
    • An application fee of £199 (non-refundable) is payable with the application.
    • An arrangement fee of £800 (refundable if mortgage cannot complete).
    • 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 upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • 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 £197,194.00 over 29 years initially on a fixed rate of 3.79% (Ending on 14 July 2026) and then our Standard Variable Rate of 4.89% for the remaining term, would require 61 monthly payments of £934.79 and 287 monthly payments of £1039.91.

    The total amount payable would be £356,605.91 made up of the loan amount plus interest (£158,302.91) with a Application Fee of £199.00, Arrangement Fee of £800.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 4.6% 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 10% Deposit 3.79% Fixed
    3.79% 4.89% 4.6% APRC 90% £800 £199

    Key Features

    Fixed rate

    A fixed rate of 3.79% for the first 5 years (fixed until 14/07/2026). It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 4.6% APRC.

    What you Pay

    • Daily interest.
    • An application fee of £199 (non-refundable) is payable with the application.
    • An arrangement fee of £800.
    • 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.
    • £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.

    Who can apply and more information

    • Available for home purchase and remortgage applications.
    • 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 £197,194.00 over 29 years initially on a fixed rate of 3.79% (Ending on 14 July 2026) and then our Standard Variable Rate of 4.89% for the remaining term, would require 61 monthly payments of £934.79 and 287 monthly payments of £1039.91.

    The total amount payable would be £356,605.91 made up of the loan amount plus interest (£158,302.91) with a Application Fee of £199.00, Arrangement Fee of £800.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00. 

    The overall cost for comparison is 4.6% 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 (subject to availability) 5% Deposit 4.44% Fixed
    4.44% 4.89% 4.9% APRC 95% N/A £199

    Key Features

    Fixed rate

    A fixed rate of 4.44% for the first 2 years (fixed until 14/10/2023). It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage.

    The overall cost for comparison is 4.9% 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 upon completion of your mortgage, if either or both applicants are NEU members.

    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 £197,194.00 over 29 years initially on a fixed rate of 4.44% (Ending on 14 October 2023) and then our Standard Variable Rate of 4.89% for the remaining term, would require 28 monthly payments of £1008.58 and 320 monthly payments of £1055.49.

    The total amount payable would be £366,330.12 made up of the loan amount plus interest (£168,827.12) 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 4.9% 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 (subject to availability) 5% Deposit 4.49% Fixed
    4.49% 4.89% 4.8% APRC 95% N/A £199

    Key Features

    Fixed rate

    A fixed rate of 4.49% for the first 5 years (fixed until 14/05/2026). It then changes to our Standard Variable Rate, which is currently 4.89%, 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 upon completion of your mortgage, if either or both applicants are NEU members.

    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 £197,194.00 over 29 years initially on a fixed rate of 4.49% (Ending on 14 May 2026) and then our Standard Variable Rate of 4.89% for the remaining term, would require 59 monthly payments of £1014.37 and 289 monthly payments of £1051.57.

    The total amount payable would be £364,084.91 made up of the loan amount plus interest (£166,581.91) 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

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