If you have a fixed term or temporary contract, are a permanent supply teacher who moves from school to school on a regular basis and therefore you sometimes or often have a varying income, you may be afraid that you will struggle to get a good mortgage deal.
Typically, a sustainable income is a difficult thing to prove as a supply teacher. Although currently many find work readily available. Historically some lenders have adopted quite a cautious attitude towards gauging the sustainability of income for supply teachers. This “lack of certainty” regarding the hours available to provide income, can prove problematic for when supply teachers apply for a mortgage.
Having said that, there are a few lenders that offer the flexibility to cater for supply teachers when applying for a mortgage, and if you have had a history of working in this role for several months then lenders start to accept a certain percentage of it towards their affordability calculations when establishing how much you can borrow.