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Legal & General launches 3-year variable rate from Teachers Building Society

Mar 26, 2013
Legal & General Mortgage Club is pleased to announce the launch of a semi-exclusive three-year variable-rate 5.79% product with Teachers Building Society. The mortgage is available up to 95% LTV for purchase and re-mortgages. The deal offers a low application fee of just £99, free legal fees for re-mortgage, refunded valuation and application fee for re-mortgage and purchase applications.
This mortgage will help those in the teaching profession, such as lecturers, teaching assistants, nursery nurses and children's therapists. There is a further incentive for NUT members, who receive £100 cash back. It is also available to non-teachers purchasing within the Dorset postcodes.

Martyn Smith, Head of Mortgage Products, Legal & General Network says:
“We’re pleased to be able to offer great value, niche mortgages to essential professions via the Legal & General Mortgage Club. The market is currently dominated by fixed-rate mortgages, so it is excellent to be able to offer this option to those looking for an alternative. Innovation in mortgage products, such as this, is key to getting the housing market on the move again.”

Alan Gravett at Teachers says:
“We are very aware that many people able to afford the monthly costs of a mortgage, are finding it difficult to buy their dream home because they have limited funds for a deposit and the cost of home purchase, so Teachers Building Society is delighted to offer a mortgage that allows teachers and our local Dorset residents exclusive access to this exciting new deal.”