Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.
|Period of Loan||Rate Payable|
Initial Variable Rate, Currently:
|Month 25 onwards||
Standard Variable Rate, Currently:
|Overall cost for comparison||4.5% 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.
£40,000 to £1,000,000
Mixed Repayment/ Interest only mortgages will be considered. For new borrowers the interest only element cannot exceed 50% LTV. Existing Society borrowers will be allowed to transfer their existing interest only loan if they move house but any additional borrowing must be on a repayment basis. All borrowers will be required to provide evidence of how they intend to repay interest only loans.
Regular overpayments will be permitted without an early repayment charge. Regular overpayments are amounts collected with, and in addition to, your monthly mortgage payments. You may make capital repayments without an early repayment charge. Following receipt of a lump sum payment, the amount that you owe, and so the amount of interest you pay, is reduced immediately.
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 £195,105.00 payable over 18 years and 1 month initially on a discounted rate for 2 years at 1.51% and then on our current variable rate of 5.24% for the remaining 16 years and 1 month, would require 24 monthly payments of £1,028 and 193 monthly payments of £1,351.80.
The total amount payable would be £286,718.40 made up of the loan amount plus interest (£90,464.40) and Mortgage Discharge & Sealing Fee (£75.00), Despatch Of Title Deeds Fee (£50.00), Telegraphic Transfer Fee (£25.00) and Product Fee (£999).
The overall cost for comparison is 4.5% APRC representative.