EXCLUSIVE:Teachers to partner L&G

Legal & General confirmed it was in discussions with the mutual but could not confirm it had reached an agreement as yet, however it is understood that something could be announced as soon as next week.

Ben Thompson, managing director of L&G Mortgage Network, said: “We’ve made a point over the past 18 months of adding several small and regional building societies to our panel to gap fill and we welcome all new intermediary lenders to the market.

“We are in discussions with Teachers BS but I can’t confirm at this point that we have reached an agreement.”

Teachers BS announced this morning it was launching to brokers via Mortgage Intelligence and Mortgage Next.

Sally Laker, managing director at Mortgage Intelligence Holdings, said: “We are delighted to be the first network to have access to Teachers Building Society’s products. This is great news for the intermediary market and we are certain that our members will find real value from this specialist provider.”

Alan Gravett, head of sales and marketing at Teachers Building Society, said: “Teachers Building Society has been providing mortgages to teachers for nearly 50 years and we are confident that our expertise in this market combined with our range of products and truly personal service will be a valuable support to mortgage intermediaries.”

Mortgage Intelligence and Mortgage Next brokers have access to a range of exclusive products including a 2.24% 2-year discount for remortgages, a 2.99% 2-year discount for house purchases and a 4.99% 3-year discount for buy-to-let, all of which are available up to 75% loan to value.