Teachers Building Society
Building SocietyTeachers Building Society is a specialist mutual focused on the education sector, offering residential and buy-to-let mortgages designed specifically for teachers, lecturers, and education professionals across the UK.
About Teachers Building Society
Teachers Building Society was established in 1966 with the specific mission of serving the financial needs of those working in education. Headquartered in Wimbledon, London, the society has spent nearly 60 years developing products and services tailored to the teaching profession.
The society offers residential and buy-to-let mortgages designed with the specific circumstances of education professionals in mind. Teachers Building Society understands the salary structures, pension arrangements, and career progression patterns of teachers, lecturers, teaching assistants, and other education workers. The society can consider newly qualified teachers, supply teachers, and those on fixed-term contracts — applicants who may struggle with other lenders' criteria.
Teachers Building Society is available to education professionals across the UK and works with mortgage brokers as well as serving members directly. The society also offers savings products and has a strong commitment to financial education. It is regulated by the FCA and PRA and is a member of the Building Societies Association.
Lending Focus
Teachers Building Society offers mortgage products across 3 categories including Residential, Buy-to-Let, Shared Ownership.
Key Features
- Specialist mortgages designed exclusively for education professionals
- Up to 100% LTV for qualifying teachers through deposit-link schemes
- Accepts newly qualified teachers and those on fixed-term contracts
- Shared ownership products for education workers on the property ladder
- Understands teachers' pay scales, pensions, and career progression
Pros & Cons
Pros
- Unique specialism for education professionals not matched by other lenders
- Up to 100% LTV through family deposit-link schemes for teachers
- Accepts NQTs and supply teachers that other lenders may decline
- Deep understanding of education sector pay and employment structures
Cons
- –Restricted to education professionals — not open to the general public
- –Rates may not be the cheapest compared to the largest high street lenders
- –Limited product range outside residential and buy-to-let
Fees & Charges
- Arrangement Fee
- Varies by product; typically £299–£699
- Valuation Fee
- Free on selected products; otherwise charged at cost
- Early Repayment Charge
- 1–3% during the initial deal period
- Overpayment Allowance
- Up to 10% per year without charge on most products
Mortgage Rates
Rate data coming soon. View rates on Teachers Building Society
| Product | Initial Rate | Type | Initial Term | Revert Rate |
|---|---|---|---|---|
| 2 Year Fixed | TBC | Fixed | 24 months | TBC |
| 5 Year Fixed | TBC | Fixed | 60 months | TBC |
| Tracker | TBC | Variable | 24 months | TBC |
Application Process
- Processing Time
- 2–4 weeks
- Online DIP
- Yes — available online
- Offer Valid For
- 6 months
Lending Criteria
- Maximum LTV
- 100%
Frequently Asked Questions
Who is eligible for a Teachers Building Society mortgage?
Teachers Building Society mortgages are available to people working in education, including teachers, lecturers, teaching assistants, school administrators, and other education support staff.
Can newly qualified teachers get a mortgage?
Yes, Teachers Building Society specifically caters for newly qualified teachers (NQTs) and understands the early career salary and progression structure in education.
Does Teachers Building Society really offer 100% mortgages?
Teachers Building Society offers a family deposit-link product where a family member places savings equivalent to the deposit in a linked savings account, enabling the teacher to borrow up to 100% of the property value.
Can supply teachers apply for a mortgage?
Yes, Teachers Building Society understands the nature of supply teaching work and considers supply teacher income on a case-by-case basis, which many other lenders will not do.
How to Apply
Direct & broker access. Apply directly or via a broker for whole-of-market access. Find a broker
Similar Lenders
View all lenders| Name | Niches | Type | Max LTV |
|---|---|---|---|
| Cambridge Building Society | Residential, Buy-to-Let, Self Build+1 | Building Soc. | 95% |
| Chelsea Building Society | Residential, Buy-to-Let, Shared Ownership | Building Soc. | 95% |
| Leeds Building Society | Residential, Buy-to-Let, Self Build+1 | Building Soc. | 95% |
| Nationwide Building Society | Residential, Buy-to-Let, Shared Ownership+1 | Building Soc. | 95% |
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Important: Your home may be repossessed if you do not keep up repayments on your mortgage. Information on this page is for general guidance only and does not constitute financial advice.Always verify lender details directly and seek independent advice before making financial decisions.
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