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Teachers Building Society reduces rates on its products

Dec 03, 2013

Teachers Building Society has lowered its 95% LTV 2 year variable rate to 5.29% and also lowered the rate on its No Early Repayment Charge, 2 year discounted variable product to 2.19%.

The 95% LTV product has no arrangement fee and is available for both home purchase and remortgage applications. The No ERC product is also available for both home purchase and remortgage cases and comes with an arrangement fee of £899. Remortgage incentives apply to both products (free legal fees and refunded valuation).

Colin Dorman, National Account Manager at Teachers Building Society, said: "We’re working hard to offer the best rates we possibly can and our 95% product has seen a huge reduction, to the tune of 50 basis points. We continue to enhance our proposition for intermediaries and with  our excellent service, 97% of intermediaries currently rate us as good or excellent.”

Jeremy Duncombe, Director, Legal & General Mortgage Club said: "More competition at 95% is good news as the demand for mortgages grows, as is the flexibility offered by the separate no ERC product."

Sally Laker, Managing Director, Mortgage Intelligence Holdings, said: "We are delighted to be working with Teachers Building Society to offer our members these exciting recently re-priced rates. Competitively priced products alongside a flexible underwriting approach is a strong proposition for our advisers."

To find out more about the mortgage range available at Teachers Building Society, call the broker team on 0800 378 669 or visit the website: www.teachersbs.co.uk/intermediary.

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