Mortgages for Newly Qualified Teachers (NQT’s) in Cardiff

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Newly Qualified Teacher Mortgages

What mortgages for NQT teachers may be available?

Newly Qualified Teacher Mortgage Advice in Cardiff

Well done! You have completed all of the necessary exams and have successfully achieved your career goal of becoming a Newly Qualified Teacher in Cardiff. The next step for you to take is to find yourself a job within the classroom, using your newly gained qualifications!

Depending on your circumstances, you may actually need to start looking at the options you have for moving house in Cardiff, if say you are currently residing within a property that is situated further away from your new job.

Sooner rather than later, you will find yourself on the lookout for a new place to live, finding it difficult to maintain the balance between owning a new home, as well as trying to ensure that you remain comfortable in your new role within the education industry.

You are certainly not alone in this endeavour, however, as we have helped a great many customers over our years working with mortgages, helping people like you to reduce their stress and take on the weight of their mortgage process, whilst they focus on their career.

Newly Qualified Teacher Mortgages

Sometimes you may find it to be quite challenging looking for a mortgage lender who is willing to offer a mortgage to a newly qualified teacher in Cardiff.

The main reasons why this will be the case, is because as a newly qualified teacher you will have either no work history or you will be on a temporary contract.

Even bearing this in mind, it’s not totally impossible to find a mortgage for an applicant who is a newly qualified teacher. Our team of open & honest mortgage advisors in Cardiff have helped many customers with this during our time as a mortgage broker in Cardiff.

Occasionally, you will come across some mortgage lenders who actually have specific specialist deals, that are on offer to applicants who work within this particular sector.

The key to finding mortgage success is finding the most appropriate mortgage lender for your circumstances and what you are looking to achieve. This is often the most difficult part of the process and if you can get that far, you’re generally on the right path.

It is times like this where an experienced and trusted team who provide expert mortgage advice in Cardiff, can take a look at thousands of mortgage deals, in order to find the most suitable one for you, with favourable interest rates.

What mortgages for NQT teachers may be available?

You must always remember that whilst it can be a complicated process for some, you are not entirely restricted in what it is you can do and what mortgage options are present for you.

Below are just a selection of the most frequently encountered mortgage types that we have seen when working through the mortgage process with newly qualified teacher:

• Help to Buy in Cardiff – A government ran scheme that was designed to help with first time buyers in Cardiff who are looking to purchase a new build property.
• Fixed-Rate Mortgages – One of the most frequently utilised mortgages, allowing your monthly mortgage payments to stay the same for a designated length of time.
• Shared Ownership Mortgages – Turning your monthly mortgage payments into part rent, part mortgage, which in turn can make repaying your mortgage a little simpler.
• Tracker Mortgages – A form of variable rate, where the interest rate on your mortgage will follow the Bank of England’s base rate, whether that rises or falls.

The mortgage lender may also review various other factors as well when you are applying for a mortgage as a newly qualified teacher. There are some mortgage lenders who will not need to see previous employment history, whilst still letting you access up to a 95% loan to value.

Depending also on the mortgage lender, a 12-month first contract may be treated as the same as a permanent job role, rather than treating it as temporary work, which other mortgage lenders may very well do.

Last of all, there could be some lenders out there who are willing to begin the mortgage process with you prior to your official work start date, so long as you can provide them with suitable evidence of a signed contract and a planned start date.

This can be incredibly useful to you, as you may find that you are ready to pay your very first mortgage payments with your first months wage from your new education job by the time that the mortgage application process has completed and your first bill is due.

How a Mortgage Advisor in Cardiff may Help

Our open & honest team of hardworking and dedicated mortgage advice experts in Cardiff have an immense amount of experience working within the mortgage industry, helping a wide variety of home buyers with their unique and individual mortgage situations.

You will hopefully see that there are a lot of benefits to using the services of a mortgage broker in Cardiff. We will take on the process for you, searching through thousands of deals on your behalf, reducing your stress, recommending conveyancing solicitors and much more.

To take a look at the various different mortgage options that could be available to you, book yourself in for a free mortgage appointment with a fast & friendly mortgage advisor in Cardiff, who will take initial information from you and help you on your way to the next step of your mortgage process.

Date Last Edited: December 6, 2023