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TBS launches two new mortgage deals

Mar 26, 2014

Teachers Building Society is launching two new deals and lowering the rate on its Help to Buy product.

The new Buy-to-Let deal has no arrangement, valuation or legal fees - just a £99 application fee is payable. A 3.49% 2 year discounted variable rate, the deal is available for remortgages only and for loans up to 75% LTV. The Society is also launching a new No Early Repayment Charge (ERC) deal, available via intermediaries only. Also a 2 year discounted variable rate, the product is available for loans up to 85% LTV.

At the same time, the rate for the Help to Buy mortgage from Teachers, in support of the equity loan scheme, has been reduced to 2.44% and is available for loans up to 75% LTV. Both the No ERC and Help to Buy deals are subject to an arrangement fee of £899, application fee of £99 and valuation and legal fees are payable.

Colin Dorman, National Account Manager at Teachers Building Society, said: "These new products offer great value and I’m confident that the Buy-to-Let deal for remortgages will be particularly appealing as it helps to keep the cost of remortgaging down. Intermediaries will, I’m sure, be equally impressed with our new No ERC deal for higher LTV cases, which is available on a semi-exclusive basis via our two network partners, Legal & General Mortgage Club and Mortgage Intelligence/Next, only.”

Mortgages from Teachers Building Society are available to teachers and education professionals anywhere in England, Scotland &Wales as well as people of all occupations purchasing or remortgaging in the counties of Dorset, Hampshire & Wiltshire. The Society recently announced improvements to its lending criteria, which include a lower minimum income requirement of £13k and extending availability of its 95% LTV deal to Newly Qualified Teachers on a fixed term contract.

Jeremy Duncombe, Director, Legal & General Mortgage Club, says, "We are delighted to support the launch of these competitive products via our semi exclusive relationship with Teachers BS. Covering Buy to Let, Help to Buy, purchase & remortgage, there is a wide range for brokers to choose from for clients that qualify for these products."

Sally Laker, Managing Director of Mortgage Intelligence, says, “It’s good to see Teachers Building Society has been consistently moving the boundaries, with their move into Wiltshire and continuing to develop a wide range of attractive products. This is a good sign that they are looking to increase their lending in 2014 which is great news for our brokers.”

To find out more about the range of mortgages available at Teachers Building Society, call the broker support team on 0800 378 669 or visit the website:




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