Teachers Building Society launches new Help to Buy mortgage

Teachers Building Society has announced the launch of a Help to Buy mortgage which will be discounted for two years.

The new product will be available to teachers and education professionals in England and Wales.

The Help to Buy mortgage includes a two year discounted variable rate of 1.49%, before changing to a the firm's Standard Variable Rate, which currently stands at 4.99%, for the remainder of term.

The offer comprises an £899 arrangement fee and £99 application fee and is available for purchase or remortgage loans up to 75% LTV.

Teachers also has a Help to Buy Mortgage available for people of any profession looking to buy in Dorset, Hampshire and Wiltshire.

“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,” says James Bawa, chief executive of Teachers Building Society. 

“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.”