The Teachers Building Society has cut the rate of its Help to Buy mortgages.
The mutual is now offering a rate of 1.99% for purchase and remortgage.
The Help to Buy mortgages from Teachers Building Society are available to teachers anywhere in the UK as well as individuals of any profession looking to buy in Dorset, Hampshire and Wiltshire.
Help to Buy Fixed Rate Mortgage
- Available for home purchase and remortgage
- Fixed rate of 2.49% until 14thNovember 2018. It then changes to the lender’s standard variable rate, currently 4.99%, for the remainder of the term
- Overall cost for comparison is 4.5% APR
- Available for loans up to 75% LTV
- £899 arrangement fee and £99 application fee
- Early Repayment Charge (ERC) applicable
- Remortgage package includes free valuation and £250 towards legal costs
Help to Buy Discounted Variable Rate Mortgage
- Available for home purchase and remortgage
- Discounted variable rate of 1.99% for the first two years. It then changes to the lender’s standard variable rate, currently 4.99%, for the remainder of the term
- Overall cost for comparison is 4.6% APR
- Available for loans up to 75% LTV
- £899 arrangement fee and £99 application fee
- Early Repayment Charge (ERC) applicable
- Remortgage package includes free valuation and £250 towards legal costs
James Bawa, chief executive of Teachers Building Society, said: “Our commitment to helping teachers and local residents move onto the property ladder includes ensuring our rates are as competitive as possible and meet the needs of our customers – whether they are looking for a lower rate variable deal or the set payment plan that a fixed rate provides.”