2 year discount 75% loan to value

Discounted for 2 years

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This product may be withdrawn at any time.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.
0.5%
booking fee
This fee must be paid when you apply for your mortgage.
no fee
initial rate
0.40% discount from our Standard Variable Rate for two years from inception
4.54%
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.
4.94%
the overall cost for comparison is 5.1% APRC
 

Product key features

Product availability

This product is available via BuildStore. We will not provide advice on this product.

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

Who's the product for?

Our range of self and custom build mortgage products have been designed to help borrowers who dream to build their own home.

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

Product incentives and product fees

Product Incentive:

The Additional Security Fee (ASF) is included.

Product Fees:

There is an arrangement fee of 0.5% of the loan amount that can be paid up front by deducting the fee from the amount you borrow or added to the mortgage amount. Please note, there is a minimum arrangement fee of £999.00. If you add the arrangement fee to the mortgage then you will pay interest on the fee at the same rate as your mortgage.

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

 

Mortgage amounts

The minimum mortgage amount is £150,000 and the maximum mortgage amount is £600,000.

The minimum property value upon completion of the build is £75,000 increasing to £250,000 for properties located within the M25 corridor.

The maximum loan to value is 75% during the build phase.

Mortgage repayment terms

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

You will only qualify for this product for 2 years from inception, by which time the build should be completed and you can apply for any suitable product from our standard mortgage range.

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

Interest rate floor

The interest rate is floored which means that the rate on your mortgage cannot drop below 4.54%.

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 full amount of the Early Repayment Charge will apply.

The Early Repayment Charge will be calculated as follows:

  • 2% of the amount repaid for the first year; and
  • 1% of the amount repaid for the second year.

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

Mortgage tariff of charges

The fees and charges that can apply during the term of your mortgage are detailed on our mortgage tariff of charges download.

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

Representative example

A mortgage of £145,500 payable over 16 years and 6 months initially on a discounted variable rate for 2 years from inception, currently 4.54% (equal to a 0.40% discount from our SVR) and then our SVR, currently 4.94% for the remaining term would require an initial payment of £1,095.47 followed by 22 monthly payments of £1,077.19 and 169 monthly payments of £1,104.43.

The total amount payable would be £213,067.32 made up of the mortgage amount plus interest (£65,942.32) with legal fees of £150, a valuation fee of £325, Build Out Insurance cover of £1,000, telegraphic transfer fees of £25 and mortgage exit fees of £125.

The overall cost for comparison is 5.1% APRC representative.

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

Laurence, our Mortgage Adviser is here to help 0121 557 2551* Contact Us
Our lines 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.

We're here to help

  • Discuss your circumstances
  • Help you get the right mortgage
  • Talk through our lending criteria
  • Answer any queries you may have

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