3 YEAR FLEXI-FIX (UP TO 60% LTV)

Summary Box
Name 3 Year Flexi-Fix Mortgage (Up to 60% LTV)
Initial rate
3.99% Fixed until 30/09/2013 on a minimum of 50% of the loan,
 
combined with: 
 
a discount of 0.8% from our standard variable rate (currently 4.99%) for 5 years on the flexible element.
Subsequent rate Our standard variable rate for the remainder of the term, currently 4.99%.
The overall cost for comparison is
5.0% APR
 
(Based on the assumption that 50% of the loan is on a fixed rate and the other 50% is on flexible).
Incentives
Up to 10% capital repayments allowed on the fixed rate element.
 
Flexible features such as daily interest calculation, ability to overpay and potential for payment holidays on the flexible portion.
Arrangement fee
£495 (non refundable) payable on application.
Maximum loan to value (LTV) 60% for both purchase and remortgage.
Interest calculated Annually on fixed / Daily on flexible.
Early repayment charges
FIXED RATE ELEMENT ONLY: 
No early repayment charge after the fixed rate period -i.e: after 30/09/2013.
 
A full or partial capital repayment, which exceeds 10% of the original loan amount in any one year during the fixed rate period, will attract an early repayment charge of 3% on the excess payment.
 
FLEXIBLE ELEMENT ONLY: 
Other conditions

Fixed rate element must be a minimum of 50%.

How To Apply

 

We were both very pleased with the service from the Vernon and the time taken to process our application.
Mr & Mrs H, Stockport