First-time Buyers

New deals from Teachers Building Society

Christina Hoghton
Written By:
Christina Hoghton

A new range of Help to Buy and Shared Ownership mortgages has been launched by the mutual that specialises in lending to the teaching profession

Teachers Building Society has launched new Help to Buy and Shared Ownership fixed rate mortgages, available to teachers anywhere in the UK.

The mutual, which also lends to local residents in Dorset, Hampshire and Wiltshire, has a Shared Ownership rate of 4.99% for 95% LTV, fixed for three years and available for purchases and remortgages.

Its new Help to Buy three-year fixed rate mortgage is 3.19% and is available up to 75% of the property’s value.

Andy Yates, business development manager at Teachers, said: “Helping teachers and local residents step onto and move up the property ladder remains our top priority, so it’s important that we work hard to ensure we meet their needs. This means supporting Government schemes, making our rates as competitive as possible and providing fixed rate products for those customers seeking the security of a set payment plan.

“We are still one of only a few lenders who will consider Help To Buy and Shared Ownership purchase and remortgage applications. Team this with our ability to lend up to five times income, and it means we are in a good position to help people with their aspirations of buying their own home and being able to switch their mortgage.”

Sally Laker, managing director at Mortgage Intelligence, a network of advisers, said: “Helping buyers onto the property ladder is of key importance in today’s market. Teachers’ support of Help to Buy alongside shared ownership, coupled with their flexible criteria and manual underwriting, makes them a lender to consider for any teacher client our advisers may have.”