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New ‘Back on Track’ mortgage from Teachers Building Society

Apr 09, 2015

Teachers Building Society has launched a ‘Back on Track’ mortgage for those who have experienced a financial glitch in their credit history.

The mortgage is part of a new range of products launched by Teachers Building Society to help underserved applicants move onto the property ladder.

Back on Track Mortgage:

  • 3 year variable rate at 4.99%
  • Available for loans up to 80% Loan to Value
  • £899 arrangement fee and £99 application fee
  • Valuation fee payable
  • Early Repayment Charges will apply for the product term

James Bawa, chief executive of Teachers Building Society, said: “At Teachers Building Society we’ve been working hard to meet a range of circumstances that potential customers may find themselves in. The introduction of this ‘Back on Track’ mortgage demonstrates our commitment to helping these people - on a personal, case-by-case basis.”

Colin Dorman, national accounts manager, said: “I think intermediaries will be pleased to see this ‘Back on Track’ mortgage as they are often faced with clients who have had a financial glitch and struggle to find a provider for them. This is why we have introduced this mortgage – to help these people step onto the property ladder, or to remortgage and move into their dream home.”

Teachers Building Society provides mortgages to teachers and education professionals across England and Wales as well as individuals of any profession looking to purchase or remortgage in Dorset, Hampshire or Wiltshire. All applications are assessed on an individual bases through bespoke underwriting without automated credit scoring.

To find out more about the range of mortgages available at Teachers Building Society, call 0800 378 669.