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Teachers Building Society lowers rate on Buy-to-Let

Aug 18, 2015

Teachers Building Society has lowered the rate on its new Buy-to-Let products, reducing the rates as low as 2.59%.

The mortgages, which are available direct and through intermediaries, offer a competitive rate with the remortgage only product offering a fee-free deal – no arrangement or valuation fee and free legals for standard remortgages (£250 towards non standard remortgages).

James Bawa, chief executive of Teachers Building Society, said: “We are constantly amending our products to make sure they suit the needs of our customers – teachers and Wessex residents - and to ensure we provide the best rates and discounts that we can to meet these ever-changing needs.”

The Buy-to-Let purchase and remortgage has been reduced from 3.39% to 2.59% with the But-to-Let Remortgage Fee Free Product being reduced from 3.99% to 3.29%.

Buy-To-Let Purchase & Remortgage

  • Available for home purchase, remortgage and Let-To-Buy
  • Discounted variable rate of 2.59% 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 5.4% APR
  • Available for loans up to 75% LTV
  • £1999 arrangement fee and £99 application fee
  • Early Repayment Charge (ERC) applicable
  • Minimum income for main applicant £20,000

     

    Buy-To-Let Remortgage – Fee Free

  • Available for remortgage and Let-to-Buy
  • Discounted variable rate of 3.29% 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 5.4% APR
  • Available for loans up to 75% LTV
  • No arrangement fee, £99 application fee, no valuation fee and free legal 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.

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

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