Teachers launches 1.49% 2-year variable

Ryan Bembridge

June 10, 2016

classroom school blackboard

Teachers Building Society has launched a 2-year variable Help to Buy mortgage at 1.49% to 75% loan-to-value.

The mortgage, which is for purchase or remortgage, comes with a £899 arrangement fee and £99 application fee.

It will revert to the lender’s standard variable rate at the end of the term, currently 4.99%.

Monmouthshire reports £6.4m post-tax profit

James Bawa, chief executive of Teachers Building Society, said: “This mortgage has a highly competitive rate and is aimed at meeting the needs of a teachers, including those newly qualified, for whom the Help to Buy scheme is a way into home ownership.

“We work hard to make sure our products meet the growing needs of teachers around England and Wales and with house prices continuing to increase, the Help to Buy scheme is one way to help teachers on step onto or up the property ladder.”