Teachers BS launches new Family Mortgage rates

Teachers Building Society has launched new Family Mortgage options designed to help families support their relatives onto the property ladder.

Related topics:  Mortgages
Rozi Jones
18th July 2017
Simon Beresford Teachers
"With increasing house prices it can be difficult for people to raise funds for a deposit and these options mean that family members can help out."

The products allow family members to gift a deposit and can be used on mortgages up to 95% LTV.

Family members are also able to remortgage their property to use as the gifted deposit and existing customers can obtain a further advance on their mortgage to use.

Anyone involved in the process can be a teacher or education professional – either the borrower purchasing the property, or the family member.

Simon Beresford, Chief Executive at Teacher Building Society, said: “At Teachers we are passionate about supporting teachers in their dream of owning their own home. With increasing house prices it can be difficult for people to raise funds for a deposit and these options mean that family members can help out.

“In order to fully support teachers and education professionals throughout their career, anyone involved in the process can be a teacher – so we can help teachers supporting their children or teachers in need of support - and the relatives who can help include not only parents, but grandparents, siblings, aunts, uncles and more.”

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