Mortgage customer read more"I always feel in safe hands and know that the Society understands my needs, everyone is very approachable and friendly making having a mortgage as stress free as possible."Miss Savell-Boss
2 year discount 65% loan to value
Discounted until 31/01/2020.
Early Repayment Charges apply.
This product may be withdrawn at any time.
Product key features
Product related fees
There is a £99 booking fee that must be paid on application. This fee is non-refundable and non-transferable.
There is an arrangement fee of £900. This fee can be paid up front by deducting the fee from the amount you borrow. Alternatively you can add the fee to the mortgage amount.
If you add the fee to your mortgage you will pay interest on the fee at the same rate as your mortgage.
Valuation fee contribution: We will give you £275 towards the cost of one standard mortgage valuation.
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 which increases to £250,000 for properties located within the M25 corridor.
The maximum loan to value is 65%.
Interest rate floor
The interest rate is floored and cannot fall below 1.04%.
Mortgage repayment terms
The minimum repayment term is 5 years and the maximum repayment term is 35 years.
Early Repayment Charges
Up to 10% of the original mortgage amount can be repaid each year without charge. If the mortgage is redeemed or switched to another product during the discount rate product term then an Early Repayment Charge will apply.
The Early Repayment Charge will be calculated at:
- 3% of the amount repaid until 31/01/2018;
- 2% of the amount repaid until 30/01/2019; and
- 1% of the amount repaid until 30/01/2020.
A mortgage of £200,000 payable over 17 years initially on a discounted variable rate until 31 January 2020, currently 1.04% (equal to a 3.70% discount from our SVR) and then our SVR, currently 4.74% for the remaining term would require an initial payment of £1,080.58 followed by 27 monthly payments of £1,074.85 and 176 monthly payments of £1,384.61.
The total amount payable would be £274,191.89 made up of the mortgage amount plus interest (£73,792.89) with a mortgage arrangement fee of £900, a booking fee of £99, legal fees of £150, a telegraphic transfer fee of £25 and mortgage exit fees of £125.
The overall cost for comparison is 3.8% APRC representative.
|Monday - Tuesday||09:00 - 17:00|
|Wednesday||09:30 - 17:00|
|Thursday - Friday||09:00 - 17:00|
|Saturday||09:00 - 12:00|
We are here to help you...
- Discuss your new mortgage
- Answer any questions
- Check what you can afford
- Help you through the process
Your home may be repossessed if you do not keep up repayments on your mortgage.