The mortgage is for up to 80% loan to value allowing eligible buyers who achieve the maximum 20% equity loan to put down no deposit.
Alan Gravett, head of sales and marketing at Teachers, said: “We have a history of supporting the government’s affordable home buying initiatives and we expect that the FirstBuy scheme will prove to be an ideal solution for many looking to take that vital first step on the property ladder.
“We’re providing a mortgage to support a HomeBuy equity loan scheme to help those buyers who have not been able to save a meaningful deposit for a first home.
“We will be welcoming applications from teachers and education professionals.
