(LD03) 1.65% Lifetime Discount

Designed for:

Borrowers who are buying or remortgaging their home, have at least 20% deposit/equity and are comfortable with interest rate changes.

 
Not designed for:

It is not designed for borrowers who plan to repay more than 10% in any one year during the discount period, or do not plan to live in the property.

THIS PAGE IS FOR USE BY AUTHORISED INTERMEDIARIES ONLY

(LD03) 1.65% Lifetime Discount

Initial rate

6.45%

Subsequent Rate (SVR)

8.10%

Overall cost for comparison

6.80% APRC

Maximum loan to value (LTV)

80%

Incentives

None

Arrangement Fee

0.30%*

Early repayment charge

Yes

* of the loan amount

Product Summary

Initial Rate

5.70% variable, which includes a 1.65% discount from our Standard Variable Rate for the term of the mortgage.

Overall cost for comparison*

6.8% APRC

Fees & Incentives
Fees
 

Arrangement fee – 0.30% of the loan amount (payable on completion, can be added to the loan)

Funds transfer fee - £20 (payable before completion)

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

Standard Valuation Fee – dependent on the property value

 
Incentives

None.

Early Repayment Charge

A full or partial capital repayment, which exceeds 10% of the capital balance amount in any one year will attract an early repayment charge of:

3% in the 1st year
2% in the 2nd & 3rd year

Loan Purpose

Purchase or Remortgage

Repayment Method

Capital & Interest or Interest-Only

Maximum Loan to Value (LTV*)

80% - Capital & Interest

60% - Interest-Only

Loan Size

Minimum £100,000 – Maximum £1,000,000

Product Information
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 3.00% 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.

 
Interest Only

The mortgage is available on an interest-only basis providing the loan-to-value does not exceed 60%. A suitable strategy for repayment must be in place.

 
Eligibility

Property must be in England and Wales with a value of £140,000 or more.

Mortgages are subject to underwriting.

Representative Example

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

A mortgage of £171,457.00, payable over 18 years, on a capital and interest repayment basis, with a payable rate of 6.45%, which includes a 1.65% discount from our Standard Variable Rate (SVR), currently 8.10%, for the term of the mortgage. The term would require 216 monthly payments of £1,343.70.

The total amount payable would be £291,568.57 made up of the loan amount (£171,457.00), plus interest (£118,782.20), Arrangement Fee (£514.37), Standard Valuation Fee (£445), Solicitor Fee (£250), Funds Transfer Fee (£20), and a Mortgage Exit Fee (£100).

The overall cost for comparison is 6.8% APRC.

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