Teachers for Intermediaries (TFI) has launched a pair of 90% loan-to-value (LTV) variable rate mortgage products.
For qualified teachers there is a 2.99% 2-year discount variable rate with a £199 application fee. For any profession there is a 3.29% 2-year discount variable rate, again with a £199 application fee
To support other buyers with smaller deposits, TFI has also expanded its mortgage range to include a new 90% LTV low rate, low fee variable rate mortgage that is open to single and joint borrowers of any profession.
David Leek, head of product and marketing at Teachers Building Society, said: “We’re delighted to be in a position to be able to provide a range of highly competitive low rate, low fee 90% LTV mortgage products to our intermediary network.
“We want the intermediaries that we work with to be best placed to assist first-time buyers and those with smaller deposits with mortgages that combine a great low rate with a very low fee, and these products will add to their arsenal.
“We were founded in 1966 specifically to help teachers onto the property ladder and our new teacher exclusive rates reaffirm our continued commitment to the profession.
“We also know many buyers of other professions are equally keen to buy a home and would benefit from the combination of higher LTV lending with low rates and a low fee. Our new products will enable us to help a broader range of borrowers.”