First time buyer - possible without starting my job?

aimeeeliza

M2808 wrote: »

I am a new teacher!

If it is a permanent job you should be ok. Try Teachers Building Society although they don't seem to lend as much as others but if it covers what you need then go for it. What is the situation of the person you are buying with?

If you go to a non-specialist, explain how the teachers pay scales work which might help. The NQT year is not a worry to most as there are very few people each year that wouldn't get through it (they usually extend and put in so much support that you can get through it if there are any problems).

It is a permanent job but i'm pretty sure I was told it's subject to me passing my NQT (obviously), but am worried this will then show as a temporary 1 year before it becomes permanent. Hopefully i'll get the contract through this week so can see all the details.

I looked on teachers' building society and they lend the amount we need, but the interest rates and therefore monthly payments seem a bit higher than the other mortgages I've been looking at?

My partner is in car sales, he has a base salary and then gets lots of commisson on top, so we also need to find a lender who will take that into account.

Will definitely bring up the teachers pay scales and teachers mortgages that i've seen when we go and see our broker... thank you.

Did you get a mortgage as an NQT / trainee teacher?

M2808

No I'm looking to get one now hopefully! And I had the NQT year from hell (so did the other NQT in the school) and even though it was awful, I passed and he had it extended by a term. They don't want you to fail as it looks worse on them. They usually just say permanent. Teacher contracts are binding from the verbal acceptance.

I still haven't found the right house yet!

M2808

Oh - if you do go with TBS make sure to claim your cash back if you are with the union they give cash back to

aimeeeliza

Just to finish this thread - we managed to get a mortgage and moved in to our house on 10th August!! So you 100% can do it with a good mortgage broker

Rebecaloureda

@Aimeeeliza

Hi,

I just wondered what bank/building society you went with in order to get a mortgage?

Was there anything they asked for in particular??
Me and my partner are looking at moving over the summer but wanted to check we could get a mortgage if I’m Ready with a NQT position waiting to start in september?

Thanks,
Rebeca

Jamster3000

Hi,


Me and my partner are also in the same position. She has just been offered a job as a NQT but it is the temporary contract, with a view to permanent. So it more or less is permanent. So any help on this thread would be great. Any advice on brokers/lendors to use?


Thank you!

aimeeeliza

Hi Rebecca,

We went though a local mortgage broker (Charlie Baker at Balanced Financial Services) and she was able to find us a mortgage company who would accept us (Accord Mortgages though Yorkshire Building Society).

I would definitely recommend going to a mortgage broker not directly to a bank as they won’t accept you directly if you don’t already have your job etc, mortgage brokers can talk to real people instead.

Make sure you’ve got your NQT contract (even if it’s not permanent - mines only 1 year and I managed!) and a good deposit and then it’s definitely possible.