Teachers BS cuts its lower deposit mortgage by 0.5%.
The Teachers Building Society has announced that its 95% LTV lower deposit mortgage, offered at a variable rate, has been cut by 0.5%.
Its 5% deposit 2 year variable rate was originally priced at 5.79%, but has now been reduced to 5.29%.
This mortgage is on offer for both new purchase and remortgage. The lender advises there is a £99 application fee but no arrangement fee.
In addition the Teachers BS has also reduced its 2 year discounted variable rate mortgage with no ERC, the rate has gone from 2.29% to 2.19%.
In line with its reduced price lower deposit mortgage, this ERC free mortgage is also available for both new purchase and remortgage. Fees have however been set higher at £899, but it does come with free legal work and remortgage customers will have their standard valuation refunded.
If you are looking for a competitive lower deposit mortgage there are now more to choose from. In reaction to the release of the Help to Buy scheme, many lenders not signed up are coming up with deals set with lower rates which are proving highly competitive against Help to Buy.
If you would like a market-wide comparison of all lenders lower deposit or Help to Buy mortgages, you are advised to call a mortgage expert at Deal Direct on 0800 048 8828.
Contact us today for free advice and a low rate quote.
Call 0800 048 8828.
