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Mortgage deal

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

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