Teachers cuts rates
Teachers has launched two new 2-year fixed rate deals for up to 75% and 85% loan to value, with rates of 2.49% and 3.59% respectively. Other deals on offer include a 3-year fixed rate of 2.59% for loans up to 75% LTV.
Teachers buy-to-let products have seen the biggest reduction with a 2-year discounted variable deal now available at 3.49%. There is also a broker exclusive No ERC 2-year discounted variable product on offer with a new rate of 2.59%.
Alan Gravett, head of sales & marketing at Teachers, said: “We are very pleased to be launching new 2-year fixed rate deals and lowering rates on our existing range.
“Brokers are making a significant contribution to our mortgage business and we hope that these new rates will be well received by our intermediary partners.”
Teachers announced earlier this month that its lending in 2012 was up year-on-year most notably with loans to first-time buyers increasing by 115%. The Society’s annual results will be announced in March.