The nature of partnership between schools and higher education institutions is changing in many countries, with experienced teachers taking on more responsibility for teacher education whilst remaining in their school as teachers, rather than entering the higher education sector to become teacher educators. This research considers the perspectives of these school-based teacher educators (SBTEs) in England, exploring the impact that this role has on them, their student-teachers and their schools. Some benefits and challenges that they face in the dual role of teacher and teacher educator are revealed. The research takes an interpretive perspective, listening to the meanings being constructed by the participants through use of a questionnaire, semi-structured interviews and a focus group of student-teachers who learned from these SBTEs. Possible impacts on student-teachers' learning and implications for the development of high-quality teacher education are examined.