Founded by the National Union of Teachers (NUT), in 1966, the Teachers Building Society was originally set up by and for teachers, and has since grown to offer a range of financial products and services. Use our comparison table below to compare Teachers Building Society mortgages.
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Since its inception the Teachers Building Society was set up by a group of teachers to help those working in the education sector to be able to buy their own home.
Today, it also offers a range of competitive savings products to people from all backgrounds.
However, its mortgage services stay true to the origins of the organisation’s philosophy created back in 1966. The Teachers Building Society still provides mortgages to people working in education throughout England and Wales, as well as to all residents – regardless of profession – in Dorset, Hampshire and Wiltshire.
As a building society and mutual organisation, the Teachers Building Society differs from many of the large traditional high street retail banks.
The main difference between the Teachers Building Society and banks, is that they do not have to pay dividends to any shareholders. Many banks often have shareholders who expect to be paid dividends as a result of the bank’s profits.
With the Teachers Building Society, those dividend costs are saved and can, in theory, be redistributed effectively to offer better financial products and services to their customers, from higher savings rates to lower rates on mortgages.
Mutual organisations such as the Teachers Building Society are generally run for the benefit of its customers, who are usually also members of the society.
Many building societies offer their members the chance to vote on proposed policies at annual organisation meetings, giving their customers a genuine say about how their financial services and products are run.
Between 2011 and 2013, the Teachers Building Society received recognition for its efforts in the local community, winning Best Local Building Society, three years running.
In 2012, the Teachers Building Society also received an award for ‘Excellence in Treating Customers Fairly’.
Treating customers fairly is a large part of the Teachers Building Society brand, and is at the heart of their unique mortgage service.
Teachers Building Society mortgages
Teachers Building Society mortgages are available to those who work in education, which includes professions such as teachers, teaching assistants, nursery nurses, child therapists and lecturers anywhere in England and Wales.
Teachers Building Society also have mortgages and remortgage deals available to residents in Wessex (Dorset, Hampshire and Wiltshire), whether they work in education or not.
First time buyer mortgages and government backed mortgage schemes are also available from the Teachers Building Society.
By focusing on those working in education, the Teachers Building Society is also able to tailor their advice and mortgage products to the customers.
Education professionals can expect a personal service provided by staff who fully understand the industry their customers work in, and therefore have the insight to understand their individual and financial circumstances.
Use our table above to compare mortgages from the Teachers Building Society.
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