Contractors 3 year discount 85% LTV [CTD06]

Discounted until 31/07/2020.

Early Repayment Charges apply.

This product may be withdrawn at any time.

 
arrangement fee
This fee can be paid upfront or added to the mortgage amount. If the fee is added to the mortgage then interest will be payable on the fee at the same rate as the mortgage.
no fee
booking fee
This fee must be paid on application. We are unable to accept payment of the fee by credit card.
no fee
initial rate
2.26% discount from our SVR until 31 July 2020
2.48%
followed by our SVR 4.74%
The overall cost for comparison is 4.3% APRC

Product key features

Who's the product for?

Due to the changing nature of the UK employment market our range of contractor mortgage products has been designed to help borrowers employed in the short term renewable contract arena.

Mortgage amounts

There is a minimum mortgage amount of £50,000.

This product also has a maximum mortgage amount of £450,000.

The minimum property value is £75,000 increasing to £250,000 for properties located within the M25 corridor.

The maximum loan to value is 85% of the purchase price or valuation, whichever is the lowest.

Interest rate floor

The interest rate on this product cannot fall below 2.48%.

Mortgage repayment terms

The minimum term your client can repay their mortgage over is 5 years. The maximum repayment term is 35 years.

Early Repayment Charges

Your client can overpay up to 10% of the original mortgage amount each calendar year. If your client repays in excess of this allowance, including at redemption or switching products they will be liable for the full Early Repayment Charge.

The Early Repayment Charge will be calculated at:

  • 3% of the amount repaid until 31/07/2018;
  • 2% of the amount repaid until 31/07/2019; and
  • 1% of the amount repaid until 31/07/2020.
Speak to Nicola, our Business Development Manager today 0121 521 4045* Getting in touch
Our lines are open:
Monday - Friday9:00 - 17:00
Saturday - SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

How can I help?

  • Answer your questions
  • Help with your new application
  • Discuss affordability
  • Talk through your decision in principle

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