(F341) 5 Year 3.49% Fixed to 28.02.2027 Direct Only

This five-year fixed mortgage comes with an interest rate of 3.49% which is fixed until 28.02.2027 followed by our standard variable rate for the remainder of the term, currently 5.20%.

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

(F341) 5 Year 3.49% Fixed to 28.02.2027 Direct Only

Initial rate

3.49%

Subsequent Rate (SVR)

5.20%

Overall cost for comparison

4.60% APRC

Maximum loan to value (LTV)

95%

Incentives

None

Arrangement Fee

None

Early repayment charge

Yes

Product Summary

Initial Rate

This five year fixed mortgage comes with an interest rate of 3.49% which is fixed until 28.02.2027 followed by our standard variable rate for the remainder of the term, currently 5.20%.

Portability

This mortgage 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

Restrictions

Lending restricted to England and Wales, excluding purchases in London and the South East.

Not available for re-mortgage.

Loan Size

Minimum £120,000

Maximum £300,000

Early Repayment Charge Details

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

5% until 28.02.2023

4% until 29.02.2024

3% until 28.02.2025

2% until 28.02.2027

Representative Example

A mortgage of £139,300 payable over 29 years on a capital and interest repayment basis initially on a fixed rate for 66 months at 3.49% and then on our Standard Variable Rate, currently 5.20% for the remaining 282 months. The first 66 months would require 66 monthly payments of £636.99 followed by 282 monthly payments of £753.14.

The total amount payable would be £255,026.82 made up of the loan amount plus interest (£115,126.82), Standard Valuation Fee (£180), Solicitor Fee (£250), Funds Transfer Fee (£15) and a Mortgage Exit Fee (£155).

The overall cost for comparison is 4.60% APRC representative.

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 5.20%. 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 and our current assessed valuation of your property.

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