Teachers BS Mortgages

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Last updated on 22 March 2021.

Teachers Building Society Mortgages FAQ

Who are Teachers Building Society?

Founded in 1966, Teachers Building Society was created to assist teachers with their journey onto the property ladder. Nothing’s changed - their purpose remains the same. That’s why their mortgage products are designed to reflect the unique needs of teachers.

Teachers Building Society mortgages are available throughout the duration of a teacher’s career; from the teacher training all the way to retirement.

Teachers Building Society mortgages – what products do they offer?

Teachers Building Society mortgages are created to suit the career path of a teacher. They offer a variety of different types of mortgage product to suit different circumstances.

Their current mortgage products include:

  • First-time buyer mortgages
  • Moving mortgages
  • Remortgages
  • Repayment mortgages
  • Interest only mortgages
  • Variable rate mortgages
  • Fixed rate mortgages
  • Buy-to-let mortgages
  • Help to Buy mortgages
  • Shared ownership mortgages

What is the Teachers Building Society’s lending criteria?

Teachers Building Society have published their lending criteria for intermediaries, also known as mortgage brokers, on their website.

As this information has been created for intermediaries as opposed to mortgage applicants, it’s important to use it only as a guide rather than gospel.

Every lender’s lending criteria differs, and while the above criteria will give you a good idea of whether you meet the provider’s requirements, matching their specifications doesn’t guarantee you will be accepted for a mortgage.

However, having an understanding of a lender’s criteria before applying can help you make a compelling case for suitability.

What are Teachers Building Society mortgage rates?

You can see the building society’s current rates alongside each of their products in our mortgages comparison table above.

Note that interest rates rise and fall over a mortgage term (typically 25 years). You can have some influence over the interest rates you will pay over the life of your mortgage. By choosing a fixed rate mortgage, you can ensure you pay the same rate for a set period (typically 2 or 5 years). When this period ends you can choose either to remortgage to another fixed rate mortgage, which ensures you know exactly how much your payments will be each month. Or, on the other hand, if you did nothing, your interest rate would revert to the lender’s standard variable rate.

If you choose a variable rate mortgage or tracker mortgage, your interest rate will rise and fall during the life of your mortgage. These types of mortgages are more suitable for those comfortable with the prospect of not knowing what their exact repayment sum will be each month.

Services offered by this provider may change over time. Always check Ts&Cs.

NerdWallet has selected Koodoo to provide you with this information-only online comparison service on a non-advised basis. NerdWallet will receive a share of the commission that Koodoo earns from the lender or from our partnered broker, Fluent Mortgages.

Koodoo is the trading name of Mortgage Power Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 845978), and is a registered company in England and Wales (company registration number 10978680), with a registered address at Scale Space, 58 Wood Lane, London, W12 7RZ

Fluent Mortgages Ltd is authorised and regulated by the Financial Conduct Authority (FRN 458914), and is a registered company in England and Wales (company registration number 10978680), with a registered address at 102 Rivington House, Chorley, New Road, Horwich, Bolton, BL6 5UE