IF YOU FAIL TO KEEP UP WITH PAYMENTS ON YOUR MORTGAGE A ‘RECEIVER OF RENT’ MAY BE APPOINTED AND/OR YOUR PROPERTY MAY BE REPOSSESSED.
|Period of Loan||Rate Payable|
Initial Variable Rate, Currently:
|Month 25 onwards||
Standard Variable Rate, Currently:
|Overall cost for comparison||4.7% APRC|
Interest Rates are variable. All discounts are off our Standard Variable Rate. If our Standard Variable Rate changes, your monthly repayments could go up or down.
No Product Fee
£40,000 to £1,000,000 for any single property
Mixed Repayment/ Interest only mortgages will be considered.
Regular overpayments will be permitted without an early repayment charge.
You will not have to pay the usual legal fees in securing your new mortgage if our appointed solicitors are used.
Our solicitors act for the Society only to ensure we have good legal claim over your property. You will have to pay for any additional legal work that the solicitors do which is beyond the usual scope of a simple remortgage, for example, change of your name, transfers of equity, deeds of postponement, merger of freehold and leasehold, remedy of any title defect, etc.
One free standard valuation on properties up to £1,000,000 in value
A mortgage of £84,361.00 payable over 20 years and 1 month initially on a discount rate for 2 years at 2.1% and then on our current variable rate of 5.24% for the remaining 18 years and 1 month, would require 24 monthly payments of £429.34 and 217 monthly payments of £553.14.
The total amount payable would be £130,460.54 made up of the loan amount plus interest (£45,974.54) and Mortgage Discharge & Sealing Fee £75.00), Despatch Of Title Deeds Fee (£50.00).
The overall cost for comparison is 4.7% APRC representative.