The Teachers’ Building Society has increased the loan to value (LTV) from 75% to 80% on a number of its mortgages.
The deals include two home purchase mortgages: a two-year discounted variable rate at 2.29% and a three-year discounted variable rate at 2.44%.
Mortgages from Teachers’ Building Society are available to teachers and education professionals in England and Wales as well as applicants of any occupation purchasing or remortgaging in Dorset, Hampshire and Wiltshire.
The mutual accepts introduced mortgage business from members of the Legal & General Mortgage Club, Tenetlime and Mortgage Intelligence networks.
“Teachers Building Society is committed to helping as many people as possible to move onto the property ladder,” said James Bawa (pictured), chief executive of Teachers Building Society.
“We are implementing a range of changes to our products, increasing the LTV from 75% to 80% which will make the products available to a wider audience. We are committed to offering a range of good value products to teachers across the UK and local residents, and these changes are all part of that process.”
Colin Dorman, national account manager, added: “These mortgages, available through the intermediary channel are now available to buyers at an increased LTV of 80%. This along with our new specialist products and our approach to manual underwriting without credit scoring make our proposition stand out to intermediaries.”