Website: Teachers
Phone: 0800 378669
The Teachers mortgage selection is all about low-cost initiation- you can find better deals, but if you want good low-start mortgages in one place, this is a good option. Special deals for the teaching profession, no flexible or non-status products.
The Teachers was set up in 1966 specifically to cater for the teaching profession. Now their doors are open to anyone (and you can arrange to see a regional representative if you wish); but there are still special deals open to NUT members only; including a 100% mortgage.
All the Teachers mortgage products emphasise low-start benefits; you can choose from cashback, discount and stepped discount products, plus the usual fixed rates. There is also the ubiquitous fee-free remortgage. Other than the NUT product, though, many products here won't let you borrow more than 85% (and often there's a high loan fee between 80% and 85% too); so if you want a small deposit, you should look elsewhere.
As regards fees, most Teachers mortgage products offer a refund of the valuation fee on completion, some are free of legal fees, but there is no clear advice on-site about redemption penalties, so be sure to ask before signing.
