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Teachers Building Society launches back into Buy-to-Let Market

Jun 11, 2015

Teachers Building Society has launched two new Buy-to-Let products, a purchase mortgage and remortgage, marking its return to the Buy-to-Let market.

The new mortgages, which are available direct and through intermediaries, offer a competitive rate with the remortgage offering a fee-free deal – no arrangement or valuation fee and free legals.

James Bawa, chief executive of Teachers Building Society, said: “At Teachers Building Society, we work hard to ensure that the products we provide meet the needs of both teachers and local residents, and following feedback from intermediaries we know these new products will meet an increasing demand for a Buy-to-Let purchase and remortgage.”

Buy-To-Let Purchase

  • Available for home purchase
  • Discounted variable rate of 3.39% for the first two years. It then changes to our BTL standard variable rate, currently 5.74%, for the remainder of the term
  • Overall cost for comparison is 5.6% APR
  • Available for loans up to 75% LTV
  • £1499 arrangement fee and £99 application fee
  • Early Repayment Charge (ERC) applicable
  • Minimum income for main applicant £20,000

Buy-To-Let Remortgage

  • Available for remortgage and Let-to-Buy
  • Discounted variable rate of3.99% for the first two years. It then changes to our BTL standard variable rate, currently 5.74% for the remainder of the term
  • Overall cost for comparison is 5.6% APR
  • Available for loans up to 75% LTV
  • No arrangement fee, £99 application fee, no valuation fee and free solicitor fees (£250 towards solicitor fees for Let-To-Buy)
  • Early Repayment Charge (ERC) applicable
  • Minimum income for main applicant £20,000

Teachers Building Society provides mortgages to teachers and other 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 basis through bespoke underwriting without automated credit scoring.