Teachers BS raises maximum BTL age and mortgage term

Teachers Building Society has implemented changes to its BTL lending criteria.

The maximum age of a customer and the maximum term of a mortgage have both been increased.

The lender has extended the maximum age at completion from 75 to 83 while the maximum term for the range has been increased from 35 to 40 years.

Furthermore, Teachers BS has lowered its cover ratio for lower rate tax payers from 145 per cent to 125 per cent.

Teachers Building Society business development manager Andy Yates says: “In addition to the recent launch of our holiday let criteria, we have made some changes to our BTL criteria.

“The increase to our maximum age and the reduced rental coverage are designed to improve our criteria, support landlords looking to purchase or remortgage and act on our broker feedback.

“Reducing the coverage ratio will help support landlords following cuts to BTL tax relief introduced by the government in 2017, which become fully implemented in the 20/21 tax year.”



Teachers BS launches new holiday let mortgage

Teachers BS have launched a new two year discounted variable rate mortgage product for properties in the holiday let sector. Offering 75 per cent LTV and available for purchase and remortgages,the product has a maximum loan of £750,000 and a maximum term of 40 years. There is an interest only option available with the sale […]


Teachers Building Society amends lending criteria

Teachers Building Society has updated its lending criteria to include new income types. From today, NHS and police allowances, locum doctor, bank nurse and music teacher incomes, and annual bonuses will be taken under consideration when applying for a mortgage. Additionally, the lender’s supply teacher criteria have also been improved. Other changes can be found […]

Teachers Building Society hires new business development manager

Teachers Building Society has announced the appointment of Ralph Punter (pictured) as business development manager for London and the South East. The role will focus on the development of intermediary relationships across the region. The appointment follows Michelle Cutler’s move from LV= to Teachers in early July to work as head of proposition and distribution. […]

What triggers the MPAA?

Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]


News and expert analysis straight to your inbox

Sign up