(F365) 3 Year 3.49% Fixed until 30.11.2025 Further Advance

This mortgage comes with an interest rate of 3.49%, which is fixed until 30.11.2025, followed by our Standard Variable Rate for the remainder of the term, currently 5.35%.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

(F365) 3 Year 3.49% Fixed until 30.11.2025 Further Advance

Initial rate

3.49%

Subsequent Rate (SVR)

5.35%

Overall cost for comparison

4.90% APRC

Maximum loan to value (LTV)

80%

Incentives

None

Arrangement Fee

£150

Early repayment charge

None

Product Summary

Initial Rate

3.49% fixed until 30.11.2025 followed by our Standard Variable Rate for the remainder of the term, currently 5.35%.

Fee Details

£150 – This can be added to the loan on completion; however, this will result in interest being charged on it making the overall fee greater over the term of the mortgage.

Maximum LTV

80% - Capital & Interest

60% - Interest-Only

The maximum LTV stated refers to the total maximum LTV including the current outstanding mortgage.

Loan Size

Minimum £50,000 - Maximum £500,000

The maximum loan amount refers to the maximum further advance allowed. The total loan including the existing mortgage may not exceed £1,500,000.

End Date

This 3-year product has a fixed end date of 30.11.2025. Dependent on when your loan completes, this rate may last longer or shorter than the number of years quoted in the title.

Purpose of Advance

For improvements to the property, or another reason can be discussed with us by exception.

Portability

This further advance product is portable to a new residential mortgage on a different property when the new mortgage is taken out simultaneously with the repayment of the existing mortgage. You would need to meet our credit and affordability requirements for the new mortgage, the new property would need to be acceptable to us, and approval of a new mortgage would be subject to our prevailing Lending Policy.

Repayment Method

Capital & Interest or Interest-Only*

*Conditions apply, please speak to us.

Incentives

None

Restrictions

Minimum property valuation £125,000.

Not permitted within 6 months of completion of the original mortgage. A valuation fee may be charged, and a credit and affordability assessment will be conducted.

Early Repayment Charge Details

No early repayment charges apply to this mortgage.

Representative Example

A mortgage of £27,232.00, payable over 19 years, on a capital and interest repayment basis, initially on a fixed rate of 3.49% until 30.11.2025, and then on our Standard Variable Rate, currently 5.35%, for the remaining 16 years. The initial term would require 43 monthly payments of £163.55, followed by 185 monthly payments of £185.80.

The total amount payable would be £41,800.65, made up of the loan amount (£27,232.00), plus interest (£14,173.65), Additional Borrowing Arrangement Fee (£150) and a Standard Valuation Fee (£245).

The overall cost for comparison is 4.90% APRC.

This is a worked example of repayments specifically relating to the further advance part only of the loan. This information may not be representative of your personal circumstances and your payments may differ from this. Representative data as of 1st January 2022.

Important Notes:

Once the product matures the interest rate will revert to our Standard Variable Rate (SVR) unless a new product is taken out. Our SVR is currently 5.35%. This is set by us and may go up or down in the future.

The Overall Cost for Comparison is given as the Annual Percentage Rate of Charge (APRC) and includes all charges incurred relating to the mortgage/product. The APRC enables you to compare the cost of different products.

The Maximum Loan to Value (LTV) is calculated by us using your current mortgage balance, the proposed further advance, and our current assessed valuation of your property.

3 easy ways to apply

Apply online

Enquire Online

Complete our quick online enquiry form and we'll get back to you within one working day.

ENQUIRE ONLINE
Apply in branch

Apply in Branch

Arrange to meet an expert Mortgage Adviser in one of our six branches.

BRANCH FINDER
Apply by phone

Give us a Call

0161 429 4318

Monday - Friday

08:45 - 17:00

Help Centre

Got a question about mortgages?

Visit our Help Centre for answers to mortgage frequently asked questions, important leaflets and guides.

READ MORE
Help Centre

Mortgage Jargon Buster

Don't get bamboozled by Mortgages. We've pulled together a list of useful terms to help you out.


READ MORE
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH REPAYMENTS ON YOUR MORTGAGE