5.35% Fixed Rate Mortgage for 2 Years- Interest Only

Interest Only (Applicants must meet the Society's Interest Only Criteria)

None

The interest rate on this product will not drop below 2.00% (following the fixed rate period).

One Free Valuation.

Minimum Loan: £30,000

Maximum Loan: Up to £750,000 at 80% LTV, £1,000,000 at 70% LTV, £1,500,000 at 65% LTV and up to £2,000,000 at 50% LTV

Purchase 80%.
Remortgage 80%.

Overpayments of up to 10% of the mortgage balance are permitted each anniversary year for the first 2 years and may be made by monthly standing order. Any additional overpayments above 10% during this period will attract a penalty calculated on the amount of the additional payments.

Available for properties located in England, Wales & mainland Scotland (Islands by referral).

New Business - All of our savings and mortgage products are only available to UK residents

If this mortgage is repaid in full or in part during the first 2 years an early repayment charge will apply. This will be 2% of the balance repaid during this period. Example – The maximum early repayment charge you could pay is £3,958.94 based on £197,947.00.

A mortgage of £197,947.00 payable over 35 years initially on a Fixed Rate of 5.35% for 2 Years and then on our Standard Variable Rate (SVR) of 8.49% (variable) for the remaining 33 years would require 24 monthly payments of £882.51 and 396 monthly payments of £1,400.48. The total amount payable would be £575,929.04 made up of the loan amount plus interest (£575,769.04), a funds transfer fee of £35.00 and a mortgage exit fee of £125.00. The overall cost for comparison is 8.4% APRC representative^

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