2 year discount retirement remortgage 75% LTV [ROBD09]

Discounted until 31/01/2020.

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This product may be withdrawn at any time.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
2.76% discount from our SVR until 31 January 2020
followed by our SVR 4.99%
The overall cost for comparison is 4.4% APRC

Product features

Who's the product for?

Where your client is in receipt of private or company pension we will consider applications up to the 85th birthday of the oldest borrower, subject to a maximum 75% LTV. State pension will also be considered but only as a secondary income source.

Where the case is in joint names the clients must demonstrate the loan is affordable upon the death of either borrower. This can be established either by a transfer of pension rights or a specific life policy to clear the mortgage balance.

Independent legal advice must be taken by the non-borrower in all cases where the mortgage is to be in a single name and the property is occupied jointly.

Product incentives

Fees assisted legals: Your client has the choice of choosing our own solicitors, where we will assist with the standard legal fees, or receiving £150 cashback towards their own solicitor's costs. They will be advised of any non-standard costs that may be applicable. If your client chooses to use our solicitors, they will only act for us and will not provide them with independent advice regarding the mortgage transaction.

Mortgage amounts

There is a minimum mortgage amount of £50,000 and a maximum mortgage amount of £450,000.

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

The maximum loan to value for this product is 75%.

Interest rate floor

Your clients interest rate is floored and therefore cannot reduce below 2.23%.

Mortgage repayment terms

Your client can repay their mortgage over a minimum of 5 years, or a maximum of 35 years.

Early Repayment Charges

We allow your client to overpay 10% of the original mortgage amount each year without charge. If they switch products or redeem during the product term they will be subject to the full Early Repayment Charge

The Early Repayment Charge will be:

  • 3% of the amount repaid until 31/01/2018;
  • 2% of the amount repaid until 31/01/2019; and
  • 1% of the amount repaid until 31/01/2020.
Our Head of Mortgage Sales, Richard is happy to help 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.

Always happy to help

  • Talk you through affordability
  • Help you understand our acceptable criteria
  • Answer any queries
  • Process your decision in principle

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