Variable Discount for 2 Years (Arrears)

This product is available for new mortgage customers only.

This product is available for custom-build.

5.99% Initial Pay Rate for 2 years which represents a 2.50% discount off our Standard Variable Rate (SVR) currently (8.49%).

Low Start – Interest Only for the first two years reverting to Capital & Interest for the remaining term.

Non-refundable Application Fee: £299.
Arrangement Fee: £700 (Deducted from the loan on completion).
Valuation Fee: A valuation fee is payable on application and is non-refundable. The fee charged is dependent upon the price of the property.

The interest rate on this product will not drop below 2.00%.

None.

Minimum Loan: £30,000

Maximum Loan: £1,500,000 at 60% LTV, £2,000,000 at 50% LTV (Loans over £500,000 will be considered on an individual basis)

Purchase 60% (Land / Construction or Renovation End Valuation).
Remortgage 60% (Land / Construction or Renovation End Valuation).

Available for loans on properties in England, Wales and Scotland (Selected Scottish Islands accepted, please refer to criteria).

Overpayments may be made by standing order.

There is no early repayment charges.

A mortgage of £232,000.00 payable over 25 years initially on a discounted variable rate of 5.99% which represents a discount of 2.5% off the Society’s Standard Variable Rate (SVR) of 8.49%, for 2 years and then on our SVR of 8.49% (variable) for the remaining 23 years would require 24 monthly payments of £1493.36 and 276 monthly payments of £1857.59. The total amount payable would be £555,267.77 made up of the loan amount plus interest (£321,633.77), a funds transfer fee of £35.00, an application fee of £299.00, an arrangement fee of £700.00 an exit fee of 125.00 and a valuation fee of £475.00. The overall cost for comparison is 8.4% APRC representative^.

To found out more about Self-build mortgages, read our guide HERE.

Call us on 01782 255000.

Lines are Open 9.00am to 5.00pm Monday to Friday.