Idea about loanable amount...? Teacher and a partner

jimmyboy420

Peter_L wrote: »

Because Teachers are considered 'key workers' and benefit from a special scheme, see http://www.mortgages.co.uk/key-worker-living/key-worker-living.html for more details

Thanks,

this is what I thought but I didn't quite know where to look:)

jimmyboy420

VIGILANT22 wrote: »

Instead of trailing round banks on a Saturday morning only being offered the products a particular Bank can provide (ie halifax could not recommend Alliance & Leicester) you would be better placed suggesting they see a Whole of Market adviser, who normally visits them in their own home at a time to suit them. Also be aware many people visiting banks do not see mortgage advisers, they meet with customer service advisers. These advisers cannot offer advice they operate on an information only basis, therefore not much help to FTB's.

Thanks.

This is a good idea and I will suggest it. Because I'm comfortable with finding my own financial products I don't tend to use advisors, so I kind of "forgot" that they could be quite so useful

VIGILANT22

TBH>>>>If you can't find key worker schemes and forgot what advisers do, maybe it would be better if you pointed your brother in the direction of the professionals and allow them to rcv qualified advice...It's not allways the best "advising" family.....

Dan_1976

They get the info through work. I think it is on the notice board or via the staff info book or whatever they call it. I am sure it will be in the school though, but I have a bad memory!

From memory they can get a deposit and they would prob be ok for shared ownership.

Get some advice from the key workers and go from there. A broker will be more flexible time wise, they will see them of an evening. My wife worked in a school for years and it is a pain during term time then you get ripped of in the holidays!

jimmyboy420

VIGILANT22 wrote: »

TBH>>>>If you can't find key worker schemes and forgot what advisers do, maybe it would be better if you pointed your brother in the direction of the professionals and allow them to rcv qualified advice...It's not allways the best "advising" family.....

I'm not advising them, I just said I'd look in to a few options. i.e., see what they could get from various building societies.

I thought this forum was a place to come and look - that there'd be more "expert" advice here than on eg, a comparison website. Sorry to have upset you.

VIGILANT22

You haven't upset me....however if you'd "forgotten" about advisers and not sure of key workers, you may have "upset" your brother..I actually think you've been given help here...I was the one who suggested a whole of market adviser and also attached the government link on key workers and other people have given some suggestions.....no advice here..... that's why you go to an adviser...only people giving opinion, which I think you will find helpful..

MummyJo_2

Hello,

I work at Teachers Building Society and we offer a direct service, with phone lines open 8am - 6pm Monday to Friday. Calls later in the evening can be arranged.

Specialising in providing mortgages for teachers (only one applicant needs to work in education to qualify) we support shared ownership schemes and also the new HomeBuy Direct, which allows buyers to apply for an interest-free loan of up to 30% of the purchase price, and we can provide the mortgage for the remaining 70% (subject to approval). So, no deposit needed. This scheme is for certain new build properties only.

For more information, call 0800 378 669.

Best wishes,

Jo
On behalf of Teachers Building Society

jimmyboy420 wrote: »

Hi folks, I'm asking for my brother and his girlfriend.

He has an admin job on about £19k per year, she is a teacher who is just finishing her second year at a junior school, straight out of uni.

They're looking to buy a place and have arranged a few appointments with banks. Because she can't take time off from her job apart from school holidays, they can only have Saturday appointments, which are well booked in advance, so they don't have any for another month.

As I'm the more financially astute member of the family, I've said I'd look in to a few options online for them.

Any ideas what she'd be earning, and if teachers get any sort of special allowance for buying a place?

And does anyone know who would be likely to offer a good mortgage for them, I think they're hoping to borrow £160k to £180k.

Cheers,

James

maninthestreet

MummyJo wrote: »

Hello,

I work at Teachers Building Society and we offer a direct service, with phone lines open 8am - 6pm Monday to Friday. Calls later in the evening can be arranged.

Specialising in providing mortgages for teachers (only one applicant needs to work in education to qualify) we support shared ownership schemes and also the new HomeBuy Direct, which allows buyers to apply for an interest-free loan of up to 30% of the purchase price, and we can provide the mortgage for the remaining 70% (subject to approval). So, no deposit needed. This scheme is for certain new build properties only.

For more information, call 0800 378 669.

Best wishes,

Jo
On behalf of Teachers Building Society

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