5.19% variable, which includes a 2.41% discount from our Standard Variable Rate for 2 years.

Our Standard Variable Rate* for the remainder of the term, currently 7.60%.

7.4% APRC

Fees

Arrangement fee - £499 (Can be paid up front or added to the loan)

Mortgage exit fee - £100 (payable when the mortgage is fully repaid)

Standard Valuation Fee – dependent on the property value

Incentives

None.

A full or partial capital repayment, which exceeds 25% of the capital balance amount in any one year during the discount period, will attract an early repayment charge of 2%.

Purchase or Remortgage

Capital & Interest

90%

Minimum £112,500 – Maximum £450,000

Portability

This product is portable and can be transferred from the existing property to a new property.

Interest rate floor

The interest rate for this mortgage has a ‘floor’, which means that it will never fall below 2.50% during the discount period.

Adding fees

If you add the arrangement fee to the loan, then interest will be charged on it resulting in a greater amount payable over the term of the mortgage.

Eligibility

Property must be in England and Wales with a value of £125,000 or more.

Mortgages are subject to underwriting.

This information is to help you understand the typical cost of this mortgage and is not representative of your personal circumstances.

A mortgage of £225,000.00 payable over 30 years, on a capital & interest repayment basis, with an initial discounted rate of 5.19%, which includes a 2.41% discount from our Standard Variable Rate (SVR) for 2 years and then on our SVR, currently 7.60%, for the remaining 28 years. The initial term would require 24 monthly payments of £1,234.11, followed by 336 monthly payments of £1,571.70.

The total amount payable would be £558,843.84, made up of the loan amount (£225,000.00), plus interest (£332,709.84), Arrangement Fee (£499), Standard Valuation Fee (£285), Solicitor Fee (£250), and a Mortgage Exit Fee (£100).

The overall cost for comparison is 7.4% APRC.