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Council backs teacher mortgage scheme
2:00pm Tuesday 27th November 2012 in News
Launched by the council and Teachers Building Society in July the scheme aims to help potential first-time buyers who could afford monthly mortgage repayments but struggle to raise the hefty deposit for a mortgage.
The council will back a proportion of the loan so the lender can provide a 95 per cent mortgage on favourable terms.
To be eligible the applicant must be a teacher or educational professional, looking to buy in Warrington, be a first-time buyer and the property must be no more than £157,850.
For more information contact Teachers Building Society on 0800 378 669. Lines are open Monday to Friday from 8am to 6pm.
For joint applications, only one applicant needs to work in education.
For more information on the eligibility criteria visit teachersbs.co.uk/mortgages/LAMS.