Teachers for Intermediaries (TFI) has increased the maximum mortgage it will offer to teachers and education workers, now lending up to seven-times income.
This is up from the previous maximum of five-times income, subject to affordability checks.
Mortgages are available up to 95% loan-to-value (LTV).
The new policy covers teachers, teaching assistants, nursery workers, headteachers, supply and contract teachers, and lecturers.
For joint applications, only one person needs to work in education.
A single teacher earning £33,000 can now borrow up to £196,400, up from the previous maximum of £165,000.
Two applicants on £33,000 each can borrow up to £412,200, a 25% increase on the previous joint maximum of £330,000.
All lending is subject to criteria and full affordability assessment.
Gavin Opperman (pictured), CEO at TFI, said: “As a Society we recognised that we needed to do more to make home ownership a reality for those working in education and we’ve made this lending policy change to help make it possible for even more teachers to take their first steps onto the property ladder.”
