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Teachers Building Society supports Help to Buy Wales

Aug 18, 2015

Teachers Building Society has extended its support of affordable home ownership to the Help to Buy Wales scheme, offering mortgages for purchase and remortgage on a fixed and variable basis.

The Help to Buy Wales scheme is available for first-time buyers and home movers wishing to purchase a new-build home in Wales up to the value of £300,000.

James Bawa, chief executive of Teachers Building Society, said: “We’re committed to supporting affordable home ownership schemes and branching out to cover the Wales Help to Buy scheme allows us to help more teachers achieve their dream of getting onto the property ladder with a smaller deposit.”

The mortgages available for Help to Buy Wales are the same as those available to the UK scheme:

Help to Buy Fixed Rate Mortgage

  • Available for home purchase and remortgage
  • Fixed rate of 2.79% until 14th September 2018. It then changes to our standard variable rate, currently 4.99%, for the remainder of the term
  • Overall cost for comparison is 4.9% APR
  • Available for loans up to 75% LTV
  • £899 arrangement fee and £99 application fee
  • Early Repayment Charge (ERC) applicable
  • Remortgage package includes free valuation and £250 towards legal costs

     

    Help to Buy Discounted Variable Rate Mortgage

  • Available for home purchase and remortgage
  • Discounted variable rate of 2.44% for the first two years. It then changes to our standard variable rate, currently 4.99%, for the remainder of the term
  • Overall cost for comparison is 4.8% APR
  • Available for loans up to 75% LTV
  • £899 arrangement fee and £99 application fee
  • Early Repayment Charge (ERC) applicable
  • Remortgage package includes free valuation and £250 towards legal costs

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 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.