| Period of Loan | Rate Payable |
| Months 1-24 |
Initial Variable Rate, Currently: 2.35% (2.89% discount) |
| Month 25 onwards |
Standard Variable Rate, Currently: 5.24% |
| Overall cost for comparison | 4.8% 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.
D172
£845 (can be added to the loan)
75% LTV.
Applicants will need to demonstrate that they have a deposit of at least 5% in the property and up to 20% under a Help to Buy Wales loan.
£40,000 - £228,000
Repayment Only.
£500**
One Free Standard Valuation (On Properties up to £1 Million in Value)
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.
£150
- *Applicants will need to demonstrate that they have a deposit of at least 5% in the property and up to 20% under a Help to Buy Wales loan.
- New Build Properties only.
- Only available in Wales.
- **£500 cashback will be provided to the home owner upon completion in the form of a cheque or BACS transfer.
- This product is only available to those using the Help-to-Buy Wales Scheme and only for new build homes in Wales. For more information on the Help-to-Buy Wales Scheme, visit www.helptobuywales.co.uk.
- Mortgage interest is calculated on a daily basis.
- Our Tariff of Mortgage Charges gives details of the charges payable in connection with mortgage applications and additional administration following completion of your loan.
- Loans available to persons aged 18 or over and are subject to status and valuation of a suitable property, over which security will be required. All lending will be subject to appraisal of the financial standing of the applicants.
Representative Example
A mortgage of £210,687 payable over 19 years 10 months initially on a discounted variable rate for 2 years at 2.35% and then on our current variable rate of 5.24% for the remaining 17 years 10 months would require 24 monthly payments of £1,108.6 and 214 monthly payments of £1,394.15.
The total amount payable would be £326,343.74 made up of the loan amount plus interest (£1114,261.74), product fee (£845), application fee (£150), legal costs (estimated £250), funds transfer fee (£25) and mortgage exit fees (£125).
The overall cost for comparison is 4.8% APRC representative.
