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Getting a mortgage as a teacher?

  • 10-12-2023 4:36pm
    #1
    Woah
    Registered Users, Registered Users 2 Posts: 67 ✭✭


    Does anyone have any feedback on getting a mortgage as a teacher who isn't CID? I am currently working as an SNA in a permanent position (well as permanent as an SNA can be) but I intend on going back to college in Sept to pursue teaching. I'm assuming the bank won't give a mortgage while I am a student but what about when I am newly qualified. I'm guessing I will be working a number of years on temp contracts, subbing, maternity etc until I get CID . Does anyone know would the bank just flat out say no as I am not permanent or would it be more based on my earnings over that student/temp contract period of time. I am in my 30s now and would like to buy a house but I'm wondering would I be better off getting a mortgage now whilst I have secure employment or will waiting end up pushing back my mortgage hopes by years? Any advice greatly appreciated!



Comments

  • #2
    mtoutlemonde
    Registered Users, Registered Users 2 Posts: 2,140 ✭✭✭mtoutlemonde


    https://www.boards.ie/discussion/2058326403/getting-a-mortgage-as-a-teacher

    Apply now and don't tell them you are going back to college. If you can demonstrate steady employment which you can now, it would be better. Dont put your life on hold. I did and only starting that journey at 40.



  • #3
    Woah
    Registered Users, Registered Users 2 Posts: 67 ✭✭Woah


    https://www.boards.ie/discussion/comment/121480526#Comment_121480526

    See my issue with this is I would basically have 1 year to find a house and get the keys. I have heard you can get stuck in the sale agreed phase for months. When the bank does additional checks at drawdown I may have already left my SNA role as I will have to go on placement.



  • #4
    Buddy Bubs
    Registered Users, Registered Users 2 Posts: 4,467 ✭✭✭Buddy Bubs


    A year is a decent amount of time if you start now! Don't wait. If you do then your options are less. Might not work out, but then again it might.



  • #5
    mtoutlemonde
    Registered Users, Registered Users 2 Posts: 2,140 ✭✭✭mtoutlemonde


    https://www.boards.ie/discussion/comment/121481107#Comment_121481107

    Well you have nine months in 2024 as your contract won't expire until August 31st. It does take time and a lot of paperwork - I'm working with two brokers but one has said I might get my mortgage before Christmas. I am building so I also had to go through planning but I got there. Get working now - don't forget the council loan and Help to Buy if you are a first time buyer. If you really need it, the first home scheme can help you. The time is nigh - don't put it off. Best of luck.



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