Teachers Building Society has launched two 95% loan-to-value mortgages exclusively aimed at teachers.
The products are a 2-year variable at 3.29% and a 5-year fix at 4.49%, both with no arrangement fee, free valuations and a £99 application fee.
Andy Yates, head of mortgage sales at Teachers Building Society, said: “We are excited about the launch of these mortgages, designed to help intermediaries support their clients who are teachers and who may have smaller funds available to put down towards a deposit.”
“All our standard mortgages are also arrangement fee-free, as we understand that in reality buying your first house can often be one of the most expensive times in people’s lives.
“And when we say arrangement fee-free we mean it – people won’t end up paying those charges elsewhere to make them think they are getting a better deal.
“We are delighted that via our intermediaries, teachers can buy their dream home with only a 5% deposit and at an attractive rate with one of our 95% LTV mortgages.”