The product comes with a £99 application fee and £899 arrangement fee, while an early repayment charge of 3% applies for the first three years.
After the three years is up the mortgage reverts to the lender’s standard variable rate, currently 4.99%.
James Bawa, chief executive of Teachers Building Society said: “We are always striving to introduce competitive products exclusively for our valued intermediaries and are pleased to roll out this 3.2% mortgage with a fixed rate for three years.
“We will continue to work closely with intermediaries to meet their requirements as best we can and look forward to introducing more products in the future.”
The product also includes a £100 contribution towards a National Union of Teachers subscription.