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Teachers Building Society lowers rates by up to 80 bps

Feb 25, 2013

Teachers Building Society has lowered the rates on most of its mortgage product range, including a new two-year discounted variable deal at 2.29% for loans up to 75% LTV.

The Society has also launched new two-year fixed rate deals for loans up to 75% and 85% LTV, with rates of 2.49% and 3.59% respectively. Other deals on offer include a three-year fixed rate of 2.59% for loans up to 75% LTV.

The Buy to Let product from Teachers has seen the biggest reduction, with a two-year discounted variable deal now available with a rate of 3.49% (down from 4.29%). There is also a broker exclusive No ERC two-year discounted variable product on offer, with a new rate of 2.59%.

Alan Gravett, Head of Sales & Marketing at Teachers Building Society, said: "We are very pleased to be launching new two-year fixed rate deals and lowering rates on our existing range. Brokers are making a significant contribution to our mortgage business and we hope that these new rates will be well received by our intermediary partners.”

Teachers Building Society announced earlier this month that its lending in 2012 was up year on year, with loans to first-time buyers rocketing by 115%. The Society’s annual results will be announced in March.

To find out more about the new mortgage range available at Teachers Building Society, call the broker team on 0800 378 669 or click here.