This five-year fixed mortgage comes with an interest rate of 3.49% which is fixed until 28.02.2027 followed by our standard variable rate for the remainder of the term, currently 5.20%
Initial Rate 3
This five year fixed mortgage comes with an interest rate of 3.49% which is fixed until 28.02.2027 followed by our standard variable rate for the remainder of the term, currently 5.20%.
Portability
This mortgage product is portable to a new residential mortgage on a different property when the new mortgage is taken out simultaneously with the repayment of the existing mortgage. You would need to meet our credit and affordability requirements for the new mortgage, the new property would need to be acceptable to us, and approval of a new mortgage would be subject to our prevailing Lending Policy.
Repayment Method
Capital & Interest
Restrictions
Lending restricted to England and Wales, excluding purchases in London and the South East.
Not available for re-mortgage.
Loan Size
Minimum £120,000
Maximum £300,000
Early Repayment Charge Details
A full or partial capital repayment, which exceeds 10% of the capital balance amount in any one year during the fixed period, will attract an early repayment charge of:
5% until 28.02.2023
4% until 29.02.2024
3% until 28.02.2025
2% until 28.02.2027
Representative Example
A mortgage of £139,300 payable over 29 years on a capital and interest repayment basis initially on a fixed rate for 66 months at 3.49% and then on our Standard Variable Rate, currently 5.20% for the remaining 282 months. The first 66 months would require 66 monthly payments of £636.99 followed by 282 monthly payments of £753.14.
The total amount payable would be £255,026.82 made up of the loan amount plus interest (£115,126.82), Standard Valuation Fee (£180), Solicitor Fee (£250), Funds Transfer Fee (£15) and a Mortgage Exit Fee (£155).
The overall cost for comparison is 4.60% APRC representative.
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