Contractors 3 year discount 85% LTV [CTD06]
Discounted until 31/07/2020.
Early Repayment Charges apply.
This product may be withdrawn at any time.
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.
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.
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.