Links Property Finance · Mortgage broker for every income type, Sydney: Home Loans for Teachers

Yes. Many lenders lend to casual teachers once the work has been steady for a period, often six to twelve months. They usually average your income over a longer period, so a tax return or income statement alongside recent payslips helps.

They should not, if the lender looks at your income across a full year. That is why lenders often use a tax return, income statement or year-to-date figures rather than a single payslip from the middle of term.

Usually, yes. Lenders look at the length of your current engagement and your history of renewals. A teacher with several years of temporary contracts in a row is often assessed much like a permanent one.

Not necessarily. Many lenders will assess a temporary teacher with a steady history now. If permanency is only weeks away, waiting for it to show on a payslip can widen your choice of lenders, so it is worth comparing both.

Rarely. Professional waivers are mostly offered to medical, legal and accounting professions. First home buyers can often use the 5% Deposit Scheme instead, and a family guarantee is another way to avoid mortgage insurance.

Usually, yes, and most early-career teachers still carry one. Lenders take the compulsory repayment out of the income they are counting, so a higher step on the salary scale or more casual days means a bigger deduction.

If the balance is close to cleared, some lenders read that differently, so a recent statement from myGov is worth having ready.