Teachers BS launch new fee free 2 year fixed rate remortgage exclusive

Teachers Building Society has announced the launch of an exclusive new remortgage available to intermediaries which carries no fee.

Related topics:  Mortgages
Warren Lewis
6th November 2017
House key mortgage buy

The product is fixed at 1.79% for the first 2 years (until 14/11/2019) before changing to a Standard Variable Rate, which is currently 4.74%, and remains on a variable rate term for the rest of the mortgage.

Further points are:

•  The overall cost of comparison is 4.3% APRC
•  An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge
•  Available for remortgage applications only

Andy Yates, Business Development Manager at Teachers Building Society, said: “This mortgage is available up to 80% LTV, has a competitive rate with no arrangement, application or valuation fee and is aimed at those looking to remortgage.

Given recent movement in the Bank of England Base rate, people will be looking for the stability of a fixed rate and this new exclusive, coupled with our tailored lending criteria, bespoke underwriting and ability to lend up to five times joint income (subject to affordability), should make it an attractive option.”

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