Brokers to offer new 90% LTV mortgages for Teachers
Dec 18, 2012
Teachers Building Society is set to give brokers another lifeline to offer first time buyers, with a new range of mortgage products, including fixed and discounted variable rate deals for up to 90% LTV.
For up to 90% LTV, we now have a three year fixed rate deal with a rate of 4.69% and a two-year discounted variable rate deal with a rate of 4.49%. These products have an arrangement fee of £899 and an application fee of £99. Additional fixed rate deals are available for loans up to 75% LTV and 85% LTV, and the Society has also reduced its rates on its two and three-year discounted variable rate products for up to 75% LTV.
The new products will be on offer through Teachers’ broker partners and direct to its mortgage market of education professionals and Dorset residents.
Alan Gravett, Head of Sales and Marketing at Teachers Building Society, said: "We are very pleased to be launching new fixed rate products at 90%, which demonstrates our commitment to helping first-time buyers. We do not operate dual pricing, so these deals are available both via intermediaries and direct. Intermediaries have made a significant contribution to our new lending business since we re-entered the broker market last year and we are working hard to provide an excellent level of service alongside competitive products.”
Teachers Building Society announced half year results in September that showed a surge in lending, up 150% on the same period in 2011, which was largely due to the intermediary channel. The Society has partnered with the networks Legal & General Mortgage Club and Mortgage Intelligence.
To find out more about the new mortgage range available at Teachers Building Society, call the broker team on 0800 378 669 or visit the website: www.teachersbs.co.uk/intermediary.