Teachers Building Society has made its Help-to-Buy mortgage available for remortgage and home purchase.
The loan, which has a discounted variable rate of 2.44 per cent for the first two years, is available for people with an existing Help-to-Buy mortgage.
Key Features
· Available for home purchase and remortgage.
· Discounted variable rate of 2.44 per cent for the first two years. It then changes to Teachers’ standard variable rate, currently 4.99 per cent, for the remainder of the term.
· Overall cost for comparison is 4.8 per cent APR
· Available for loans up to 75 per cent loan-to-value
· £899 arrangement fee and £99 application fee
· Early repayment charge applicable
· Remortgage package includes free valuation and £250 towards legal costs
Adviser view:
Gemma Harle, managing director of national mortgage and protection support services TenetLime, said: “The Teachers product helps address the issue of limited options for consumers after the initial benefit period expires.”
