• The Society’s Standard Variable Rate (SVR) currently 4.99%
  • The overall cost for comparison is 5.2% APRC representative*
  • Booking Fee of £100 payable upfront and non-refundable
  • Arrangement Fee of £399 for mortgages up to £250,000 and 0.5% for mortgages over £250,000
  • 90% maximum loan to value
  • There is a collar of 2.5% on this mortgage which means that the rate of interest charged will not fall below 2.5%
  • Early Repayment charge of 2% of the redemption balance if redeemed or rearranged within the first 2 years
  • Available for purchase or remortgage
*Representative example:
Loan Amount £99,200
Arrangement Fee (added to loan) £399
Own Buildings Insurance Fee (added to loan) £25
Electronic Transfer of Funds (added to loan) £30
Total Amount of Credit £99,654
Term 25 years
Property Value £260,000
Booking Fee £100
Valuation Fee (including £25 valuation administration fee) £320
Solicitors Mortgage Fees (Estimate) £150
Deeds Release Fee £50
Sealing Fee £100
1 payment at the Society’s SVR (currently 4.99%) £936.21
Followed by 298 payments at the Society’s SVR (currently 4.99%) £581.99
Total Amount Payable £175,089.23
The Total Amount Payable is made up of the Total Amount of Credit, other fees payable (not added to the loan), plus the interest of £74,715.23

Your home may be repossessed if you do not keep up repayments on your mortgage

 

Additional Terms & Conditions

 

  1. The Society will require a first charge over the property
  2. Capital repayments and overpayments are permitted subject to a maximum of 20% per financial year of the amount advanced or transferred capital balance. Capital repayments are subject to a minimum of £1,000 over the normal monthly payment
  3. Following receipt of a regular overpayment or lump sum, the amount you owe, and so the interest you pay, is reduced immediately
  4. There is a Booking Fee of £100, payable upfront and non-refundable
  5. There is an Arrangement Fee of £399 for mortgages up to £250,000 and 0.5% for mortgages over £250,000. This can be added but interest will be charged for the remaining term of the mortgage, or the fee can be paid on or before completion and interest will not be charged
  6. Maximum loan to value 90%. 50% may be on Interest Only if there is a credible repayment strategy in place. The remaining amount must be on a Capital and Interest (repayment) basis
  7. There is a collar of 2.5% on this mortgage which means that the rate of interest charged will not fall below 2.5%
  8. An Early Repayment Charge of 2% of the redemption balance is payable if the mortgage is redeemed or rearranged within the first 2 years
  9. A higher lending charge could apply to this mortgage if borrowing over 75% of the value of the property
  10. Maximum mortgage amount £550,000
  11. There are other fees which could apply to your mortgage:
Electronic transfer of funds £30
Deeds Release Fee £50
Sealing Fee £100
Estimated legal costs in conjunction with a mortgage and estimated Valuation Fee

Higher Lending Charge if applicable

these have been included in the APRC calculation

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