Early Career Teacher (ECT) Mortgages
PLEASE NOTE: YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Supporting ECTs (NQTs) and recently qualified teachers (RQTs) is as important to us today as it was to our founders in the 1960s.
That’s why we offer dedicated support to help Early Career Teachers (ECTs) get mortgages, including:
- Providing ECT (NQT) mortgages based on an initial job offer only (no payslip requirements)
- Treating ECT (NQT) initial (12) 24 month contracts as permanent for mortgage application purposes
- Enabling mortgages that commence up to 2 months before an ECT (NQT) starts their first teaching role
We offer range of fixed (interest rate remains the same) and variable (the interest rate can change) mortgage options for ECTs (NQTs) with smaller deposits of just 5% or 10% of the value of the home they’re purchasing.
We don't stop there. For teacher first time buyers we pledge to:
- Offer mortgages for up to 5 times joint salary (subject to affordability; only one applicant needs to be a teacher)
- Offer mortgages with just a 5% deposit
- Save our best (lowest) rates exclusively for teachers
- Provide ‘fee free’ mortgage options
- Offer mortgages to ECTs (NQTs), supply and contract teachers
- Take teacher pay grades into account
Filter:
Variable rate mortgages
| Deposit % | Term | Initial interest rate |
Follow on rate |
Overall cost for comparison |
Max LTV |
Arrangement fee |
Application fee |
|
|---|---|---|---|---|---|---|---|---|
| 5% | 2 years | 6.39% |
8.79% |
8.6% APRC | 95.0% | £0.00 | £0.00 | Details |
| 10% | 2 years | 5.99% |
8.79% |
8.5% APRC | 90.0% | £0.00 | £0.00 | Details |
| 20% | 2 years | 5.74% |
8.79% |
8.5% APRC | 80.0% | £0.00 | £0.00 | Details |
Fixed rate mortgages
| Deposit % | Term | Initial interest rate |
Follow on rate |
Overall cost for comparison |
Max LTV |
Arrangement fee |
Application fee |
|
|---|---|---|---|---|---|---|---|---|
| 5% | 5 years | 5.74% |
8.79% |
7.7% APRC | 95.0% | £0.00 | £0.00 | Details |
| 5% | 2 years | 6.39% |
8.79% |
8.4% APRC | 95.0% | £0.00 | £0.00 | Details |
| 10% | 2 years | 5.99% |
8.79% |
8.3% APRC | 90.0% | £0.00 | £0.00 | Details |
| 10% | 5 years | 5.34% |
8.79% |
7.5% APRC | 90.0% | £0.00 | £0.00 | Details |
| 20% | 5 years | 5.24% |
8.79% |
7.5% APRC | 80.0% | £0.00 | £0.00 | Details |
| 20% | 2 years | 5.74% |
8.79% |
8.3% APRC | 80.0% | £0.00 | £0.00 | Details |
Shared ownership variable rate
| Deposit % | Term | Initial interest rate |
Follow on rate |
Overall cost for comparison |
Max LTV |
Arrangement fee |
Application fee |
|
|---|---|---|---|---|---|---|---|---|
| 5% | 2 years | 7.40% |
8.79% |
8.8% APRC | 95.0% | £0.00 | £0.00 | Details |
Making history, not just teaching it
We've been helping new teachers buy homes since the sixties
Buy one mortgage donate one hundred pounds
For every teacher that take a mortgage with us we'll donate £100 to Education Support
Please note: Mortgages are secured on your home. You could lose your home if you do not keep up payments on your mortgage. Terms and conditions apply. Mortgages are subject to underwriting and criteria. Please contact us for full details.