A shared ownership mortgage for teachers has been developed by the Teachers Building Society, a body first set up by the National Union of Teachers.
The mortgage, for loans up to pound;150,000, is aimed at teachers who want to take part in the Government’s HomeBuy scheme, which allows key workers to buy a share of a house. An interest rate of 6.99 per cent is available for those with no deposit, and 6.19 per cent for those who can afford a 5 per cent deposit.
www.teachersbs.co.uk
