The Teachers Building Society has extended its support of affordable home ownership to the Help to Buy Wales scheme, offering mortgages for purchase and remortgage on a fixed and variable basis.
The Help to Buy Wales scheme is available for first-time buyers and home movers wishing to purchase a new-build home in Wales up to the value of £300,000.
The mortgages available for Help to Buy Wales are the same as those available to the UK scheme:
Help to Buy Fixed Rate Mortgage
- Available for home purchase and remortgage
- Fixed rate of 2.79% until 14thSeptember 2018. It then changes to the standard variable rate, currently 4.99%, for the remainder of the term
- Overall cost for comparison is 4.9% 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 2.44% for the first two years. It then changes to the standard variable rate, currently 4.99%, for the remainder of the term
- Overall cost for comparison is 4.8% 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: “We’re committed to supporting affordable home ownership schemes and branching out to cover the Wales Help to Buy scheme allows us to help more teachers achieve their dream of getting onto the property ladder with a smaller deposit.”