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teachers building society
F_tara
Posts: 1 Newbie
My partner is a teacher and rang teachers building society for advice regarding a 5% mortgage, we now have a mortgage in principle with them. However i cannot find any reviews- well two and them two are bad saying they allowed fees to be paid and then rejected or that the fees to pay are high. I was wondering if they are a good lender to go with? We are both first time buyers and have no experience in this area. 
Any other advice on first time buying welcome as i feel like my head needs to explode.
Any other advice on first time buying welcome as i feel like my head needs to explode. 0
Comments
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Use a broker
It would be foolish to use Teachers BS just because he is a Teacher. True, they do understand the nuances of Teachers contracts but so do other lenders. You could get a much better rate looking at the whole of market - Teachers being a small BS tend to be a bit on the expensive side.
Its worth speaking to a broker for advice and getting a recommendation as well as considering Teachers. At least then you know you are getting the best deal tailored to your circumstances.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
We currently have a mortgage with Teachers - placed by a mortgage broker due to our awkward situation at the time and requirement for a 95% mortgage of £350K which I was told many lenders wouldn't even consider.
Yes it wasn't the lowest rate but we knew we wouldn't, at that point, get a low rate.
What I will say is that it has actually been a pleasure to deal with them - because they are so small you get through to a person straight away if you call - I make overpayments every so often so have spoken to them a few times. Never had any problems with them at all.
Wil I remortgage with them at the end of the fixed term? No, because by then I'm hoping to be able to secure a much lower rate with another lender. If they had a competitive rate then I would stay in a heart beat.0 -
I was wondering if they are a good lender to go with?
Niche and more expensive may be a better way of describing them.We are both first time buyers and have no experience in this area.
If you are considering Teachers then you really need to consider using a mortgage broker.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Has anyone else used TBS for mortgages and have any idea of what their timescales are from AIP to Offer? Not much information available online, just wondering if any has any experience to share?0
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