The Teachers Building Society has launched a new fee free 1.79% two-year fixed rate intermediary exclusive remortgage.

An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. Overpayments of up to 10% of the loan outstanding per calendar year can be made without charge.

Andy Yates, business development manager at the Teachers Building Society, said: “This mortgage is available up to 80% LTV, has a competitive rate with no arrangement, application or valuation fee and is aimed at those looking to remortgage.

“Given recent movement in the Bank of England Base rate, people will be looking for the stability of a fixed rate and this new exclusive, coupled with our tailored lending criteria, bespoke underwriting and ability to lend up to five times joint income (subject to affordability), should make it an attractive option.”