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Teachers Building Society – 2-Year 2% Discount Mortgage – Direct

Teachers Building Society – 2-Year 2% Discount Mortgage – Direct

Type: Discounted rate mortgage

Discounted term: Two years

Discount: 2%

Payable rate: 2.99%

Minimum loan: £20,000

Maximum loan: Up to 75% of valuation subject to no maximum

Income multiples: Based on affordability

Flexible features: Overpayments, payment holidays of up to six months a year, interest calculated daily

Conditions: Capital repayments of 20% a year allowed without penalty in the discount period, available only to borrowers employed by the Local Education Authority or to other borrowers if the property is in the BH post code, available for house purchase only, £100 contribution towards NUT subscription

Arrangement fee: £999

Redemption fee:  5% of the amount repaid in the first two years

Introducer’s fee: None

Contact: www.teachersbs.co.uk

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