2 year discount shared ownership 90% loan to value

Discounted until 30/11/2019.

Early Repayment Charges apply.

This product may be withdrawn at any time.

 
arrangement fee
This can be paid up-front or added to the mortgage. Bear in mind that if you add the fee to your mortgage, you'll pay interest on it at the same rate as your mortgage and as a result will pay more interest over the term of your mortgage.
no fee
booking fee
This fee must be paid when you apply for your mortgage.
no fee
initial rate
1.75% discount from our Standard Variable Rate until 30 November 2019.
2.99%
followed by our SVR
Our Standard Variable Rate (or SVR) reflects our cost of lending using a number of factors, including the Bank of England Base Rate. As the SVR is a variable rate it can change at any time.
4.74%
the overall cost for comparison is 4.5% APRC

Product key features

Mortgage amounts

There is a minimum mortgage amount of £50,000 and a maximum borrowing limit of £250,000.

The maximum loan to value for this product is 90% of the share of the purchase property.

Mortgage repayment terms

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

 

Property restrictions

You must purchase a minimum property share of 25% or 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.

A minimum property value of £100,000 applies, increasing to £250,000 for properties located within the M25 corridor.

Interest rate floor

The interest rate is floored and cannot fall below 2.99%.

Early Repayment Charges

You can overpay up to 10% of the original mortgage amount each year. If you repay more than 10%, including a full redemption or rate switch during the discount product period you will be liable for an Early Repayment Charge.

Your Early Repayment Charge is calculated against the amount you repay and will be 3% until 30/11/2017, 2% until 30/11/2018 and 1% until 30/11/2019.

Mortgage tariff of charges

Our mortgage tariff of charges shows the fees and charges that apply during your mortgage term.

Representative example

A mortgage of £100,000 payable over 25 years initially on a discounted variable rate until 30 November 2019, currently 2.99% (equal to a 1.75% discount from our SVR) and then our SVR, currently 4.74% for the remaining term would require an initial payment of £481.90 followed by 28 monthly payments of £473.69 and 271 monthly payments of £561.20.

The total amount payable would be £166,765.42 made up of the mortgage amount plus interest (£65,830.42) with a mortgage valuation fee of £635, legal fees of £150, a telegraphic transfer fee of £25 and mortgage exit fees of £125.

The overall cost for comparison is 4.5% APRC representative.

Gail, from our mortgage team is here to help 0121 557 2551* or arrange a callback
Our branches are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

Here to help you...

  • Answer your questions
  • Find a mortgage suitable for you
  • Book an appointment with one of our Mortgage Advisers
  • Discuss your existing mortgage with us

Our mortgage customers say...

"You soon get to know the people you are dealing with, which helps to take the stress out of your mortgage." Mrs Main
Mortgage customer read more

Our mortgage customers say...

"My experience with the Society has allowed me to get a mortgage I am happy with and I know they are only at the other end of the phone if and when I need them." Miss Savell-Boss
Mortgage customer read more

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