3 year fixed 85% LTV [RMF111]

Fixed until 31/05/2024

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This product may be withdrawn at any time.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
2.99% fixed to 31 May 2024
2.99%
followed by our SVR 4.94%
The overall cost for comparison is 4.5% APRC
 

Product key features

Product related fees

There's an arrangement fee of £999 that can be paid up front by deducting the fee from the amount borrowed or, 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.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Product incentives

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 £250 cashback towards their costs.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Mortgage amounts

The minimum mortgage amount is £100,000 and the maximum mortgage amount is £500,000.

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 lower.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

 

Mortgage repayment terms

The minimum repayment term is 5 years and the maximum repayment term is 35 years.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Early Repayment Charges

Early Repayment Charges apply during the product term. Up to 10% of the original mortgage amount can be overpaid each year without charge, however, if the mortgage is redeemed or switched to another product during the product term, then the Early Repayment Charge will apply.

The Early Repayment Charge will be calculated at:

  • 4% of the amount repaid until 31 May 2021;
  • 3% of the amount repaid until 31 May 2022;
  • 2% of the amount repaid until 31 May 2023; and
  • 1% of the amount repaid until 31 May 2024.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Faye is here to help you with your case 0121 521 4000* Getting in touch
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"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
Charles Derby Mortgage Bureau

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