2 year fixed rate shared ownership 90% LTV [RSF005]

Fixed until 31/01/2020.

Early Repayment Charges apply.

This product may be withdrawn at any time.

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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.
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
3.29% fixed rate until 31 January 2020.
followed by our SVR 4.74%
The overall cost for comparison is 4.6% APRC

Product key features

Product related fees

There is a £999 arrangement fee which can be paid up front by deducting the fee from the mortgage amount. Alternatively, the fee can be added to the amount borrowed.

Product incentives

Valuation fee contribution: We will contribute £275 twoards the cost of one standard mortgage valuation.

Fees assisted legals: We will assist with your clients standard legal fees if they use our solicitors. If they choose to use their own solicitors we will provide them with a cashback of £150. Our solicitors will only act on our behalf and therefore will not provide your clients with independent advice regarding the mortgage transaction. If they are likely to be liable for any non-standard legal fees we will advise them of this.

Mortgage amounts

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

This product has a maximum mortgage amount of £250,000.

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 available on this product is 90% of the share of the property.

The mortgaged property

Shared ownership products are available up to 90% loan to value on both new build houses and apartments of no more than five storeys. Your clients will be able to borrow up to 90% of the value of the share of the property they are looking to purchase.

There is a minimum property share of 25% and a maximum property share of 75%.

Applications can only be considered where the Housing Association allows additional borrowing, or 'staircasing', up to 100% of the property value.

There is a minimum property value amount of £100,000.

Mortgage repayment terms

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

Early Repayment Charges

Up to 10% of the original mortgage amount can be overpaid each year without charge. If the mortgage is redeemed or switched to another product during the fixed rate term then the full amount of the Early Repayment Charge will apply.

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.
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.

We are happy to help you...

  • Find the best mortgage for their home
  • Answer any questions
  • Discuss your existing cases
  • Process any new decision in principles

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