Charles Derby Mortgage Bureau"Thank you for your help and assistance in this case, it takes me back to the good old days of everything being manually underwritten."Peter Matthews
2 year discount 85% LTV [RMD189]
Discounted for 2 years
Early Repayment Charges apply.
This product may be withdrawn at any time.
Product key features
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, or alternatively adding the fee to the mortgage amount.
Free standard valuation: We'll cover the cost of one standard mortgage valuation on a property valued up to £400,000. Your client can choose to have a RICS Homebuyers Report, however they'll have to cover the difference in cost.
Fees assisted legals: We'll cover the costs of any standard legal fees involved. Any non-standard costs will be payable by your client. You'll be advised of any non-standard costs should any apply. If your client chooses to use our own conveyancers they'll only act for us and not for the customer during the remortgage transaction. If your client needs to add or remove a name on the mortgage they must appoint their own solicitors, and they'll receive £150 cashback towards their costs.
There is a minimum mortgage amount of £50,000.
This product has 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 85%.
Interest rate floor
Your clients interest rate is floored and therefore cannot reduce below 2.74%.
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:
- 2% of the amount repaid during the first year; and
- 1% of the amount repaid during the second year.
Here to help you with...
- Your potential new case with us
- Process your decision in principle
- Explain our lending criteria
- Talk through affordability
Your home may be repossessed if you do not keep up repayments on your mortgage.