Teachers launches ‘Back on Track’ mortgage
The mortgage is a 3-year variable at 4.99% to 80% LTV with a £899 arrangement fee and £99 application fee.
The society’s’ products are available for teachers across England and Wales or any professional looking to purchase or remortgage in Dorset, Hampshire or Wiltshire.
James Bawa, chief executive of Teachers, said: “We’ve been working hard to meet a range of circumstances that potential customers may find themselves in.
“The introduction of this ‘Back on Track’ mortgage demonstrates our commitment to helping these people – on a personal, case-by-case basis.
“It can be difficult for some people to get a mortgage if they have had a financial glitch, and we wanted to be able to help these people, if possible, get onto the property ladder or remortgage and move into their dream home.”
Applications are assessed on a case by case basis, while both early repayment charges and valuation fees apply.