08 March 2017
Teachers have recently amended their Lending Policy to reflect the changes in their Buy to Let Criteria.
They have also included a 5 year fixed rate deal for teachers.
Here is a reminder of some of their lending highlights:
Only one applicant needs to be a teacher, lecturer, teaching assistant, trainee teacher or education support staff employed in a school, college or university.
If your trainee teacher is in receipt of a bursary they can consider this income when assessing affordability (providing there is a second applicant on the mortgage).
Newly Qualified Teachers (NQTs)
Newly Qualified Teachers start their career on a 12 month contract in their first year. They treat them as permanently employed.
Temporary Contracts Considered
There must be 6 months left on any contract at the time of application. Other criteria applies so give them a call.
More details can be found on their website.