2 Year Discount at 3.98%

PRODUCT CODE - RDI23

This is a 3.98% 2 year discounted variable rate mortgage.  A 40% deposit is required.

This mortgage is only available for product switches.

A 2% early repayment charge will apply if you repay all or part of your mortgage within the first 2 years. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 2 years

The minimum loan amount is £20,000 and the maximum loan amount is £1,000,000.

The maximum term available is 40 years.

This product has a floor rate.

There may be other fees and charges when taking out a mortgage with us – please see mortgage fees and charges for more information

Representative Example

A mortgage of £150,000 payable over 23 years initially on a discount rate for 2 years at 3.98% and then on our Mortgage Variable Rate (MVR) of 7.99% for the remaining 21 years would require 24 monthly payments of £836.03 and then 252 monthly payments of £1,169.35.

The total amount payable would be £314,860.95 made up of the loan amount plus interest (£314,740.95), an application fee of £999.00 and a Mortgage Discharge Fee of £120.00.

The overall cost for comparison is 7.4% APRC representative.

Please note the example above is for a product switch on a Capital and Interest repayment basis