TEACHERS struggling to step onto the property ladder in Warrington can still get help from the borough council through a special mortgage scheme.
Launched in July by the council and Teachers Building Society, the scheme aims to help potential first-time buyers who can afford monthly mortgage repayments but struggle to raise the hefty deposit for a mortgage.
The council will indemnify a proportion of the loan to enable the lender to provide a 95 per cent mortgage on favourable terms.
To be eligible for the scheme, applicants must be a teacher or educational professional and the property must be in Warrington
The maximum value of the property is £157,850 and the teacher must be a first-time buyer
Teachers looking to buy a property in Warrington can get more information from
Teachers Building Society on 0800 378 669. Lines are open Monday-Friday, 8am to 6pm.
For joint applications, only one applicant needs to work in education. More information on the eligibility criteria can be obtained from www.teachersbs.co.uk/mortgages/LAMS
TEACHERS struggling to step onto the property ladder in Warrington can
still get help from the borough council through a special mortgage
scheme.
Mortgage help for teachers
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Gary Skentelbery
Experienced journalist for more than 40 years. Managing Director of magazine publishing group with three in-house titles and on-line daily newspaper for Warrington. Experienced writer, photographer, PR consultant and media expert having written for local, regional and national newspapers. Specialties: PR, media, social networking, photographer, networking, advertising, sales, media crisis management. Chair of Warrington Healthwatch Director Warrington Chamber of Commerce Patron Tim Parry Johnathan Ball Foundation for Peace. Trustee Warrington Disability Partnership. Former Chairman of Warrington Town FC.
3 Comments
Why are teachers being singled out for special help when others are finding it impossible to get on the property ladder ………… one rule for some I think, maybe the council should indemnify all Warrington people who are looking to buy for the first time.
Do they need to be working at an educational establishment in Warrington to get this special treatment?
Does it include those working in the private sector.
I wonder how many councillors are in or have close relatives in the teaching profession or young relatives looking to join – I suspect more than the average person.