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2 year discount 85% loan to value [BSD003]

Discounted for 2 years

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This product may be withdrawn at any time.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.
£999
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
0.75% discount from our SVR for two years
4.49%
followed by our SVR 5.24%
The overall cost for comparison is 5.3% APRC
 

Product key features

Product availability

This product is available via BuildLoan.

Who's the product for?

Our range of self and custom build mortgage products have been designed to help borrowers who dream to build their own home.

Product related fees

There is an arrangement fee of £999. This fee can be paid up front by deducting the fee from the amount borrowed. Alternatively the fee can be added to the mortgage amount.

If the fee is added to the mortgage your client will pay interest on the fee at the same rate as the mortgage.

Mortgage amounts

The minimum mortgage amount is £50,000 and the maximum mortgage amount is £450,000.

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

The maximum loan to value is 85% during the build phase.

Mortgage repayment terms

The minimum repayment term is 5 years and the maximum repayment term is 35 years.
Your client will only qualify for this product for 2 years from inception, by which the build should be completed and they can apply for any suitable product from our standard mortgage range.

 

Interest rate floor

The interest rate is floored which means that the rate on your clients mortgage cannot drop below 4.24%.

Early Repayment Charges

Your client can repay up to 10% of the original mortgage amount each year without being charged. Payments that exceed 10% will be subject to an Early Repayment Charge.

Additionally, if they redeem your mortgage or switch to another product during the discount rate product term then an Early Repayment Charge will apply.

The Early Repayment Charge will be calculated as follows:

  • 2% of the amount repaid for the first year; and
  • 1% of the amount repaid for the second year.
Faye is here to help you with your case 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.

We're here to help

  • Discuss your clients needs
  • Help you with our lending criteria
  • Answer any questions you may have
  • Process your decision in principle request

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