Product related fees
There is a £199 booking fee that must be paid on application. This fee is non-refundable and non-transferable.
Free standard valuation: Your first standard mortgage valuation will be free.
Free standard legal fees: You may use our solicitors for free. If there are any non-standard legal fees that will apply, you will be advised of these. Or, if you choose to use your own solicitors we will give you £150 cashback towards these fees. If you do choose to use our solicitors, they will not be able to provide you with independent advice regarding the mortgage transaction and will only act for us.
Cashback: A £199 cashback will be paid on completion of the mortgage.
There is a minimum mortgage amount of £50,000.
This product offers a maximum mortgage amount of £250,000.
There is a minimum property valuation of £75,000 which increased to £250,000 for properties located within the M25 corridor.
The maximum loan to value available with this product is 95%.
Mortgage repayment terms
You can repay your mortgage over a minimum of 5 years and a maximum of 35 years.
Interest rate floor
The interest rate on this product is floored and cannot fall below 2.99%.
Early Repayment Charges
No Early Repayment Charges apply.
Mortgage tariff of charges
The mortgage tariff of charges details the various fees and charges that may apply during the term of your mortgage.
A mortgage of £159,900 payable over 30 years initially on a discounted variable rate until 31 July 2020, currently 3.08% (equal to a 1.66% discount from our SVR) and then our SVR, currently 4.74% for the remaining term would require an initial payment of £694.59 followed by 35 monthly payments of £681.06 and 324 monthly payments of £819.95.
The total amount payable would be £290,544.49 made up of the mortgage amount plus interest (£130,295.49) with a mortgage booking fee of £199, a telegraphic transfer fee of £25 and mortgage exit fees of £125.
The overall cost for comparison is 4.5% APRC representative.