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GTP and getting a Mortgage

Discussion in 'Trainee and student teachers' started by TristUK, Apr 1, 2011.

  1. Hi folks,

    I?m looking for a little advice. I'm in the process of buying a house. Have had a mortgage agreed in principle by the bank and have had an offer accepted on a house. I'm currently on my GTP training year (on course to pass with a 'good' rating) so am on a trainee teacher contract being paid a salary.

    The mortgage was agreed in principle but I?m not a little nervous that they will be reluctant to offer me a mortgage at the main meeting now. We have a decent deposit of 20% - 25% and my partner earns the a lot more than me so I?m hoping that they will not be concerned that I don?t have a teaching job agreed for next year as I'm not the main earner and we can pay a lump sum towards the house upfront.

    I have an interview next week so I?m hoping that I may be offered a position at a local school, would a bank accept an offer of a position as evidence to support a mortgage or do they require pay slips?

    Do you think that banks will turn their noses up at being a trainee teacher?

    Thanks for your advice.

  2. Every bank is different, but yes, a confirmed job offer with salary details is normally enough.
    Similarly, some banks will have an issue with what is effectively a fixed term contract (ie your current contract) rather than a permanent job - if you don't have an offer by the time you meet the bank then be prepared to defend your situation. BUT, don't offer the fact that it's a fixed term contract unless you are asked. Good luck!
  3. Thanks for the advice.

    I had my interview earlier this week and was offered a teaching position for next September! The head teacher said she would send me a confirmation in the post so hopefully that will be enough to convince the bank when I meet with them next week.

    So happy to have a job lined up for next year!!!

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