PRODUCT CODE - RFI100

This is a 4.70% 5 year fixed rate mortgage.  A 25% deposit is required.

This mortgage is only available for product switches.

An early repayment charge will apply if you repay all or part of your mortgage within the first 5 years. This charge will be applied on a sliding scale of 5% in the first year, 5% in the second year, 4% in the third year, and 3% in the fourth and 2% in the fifth year. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 5 years.

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

The maximum term available is 40 years.

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 fixed rate for 5 years at 4.70% and then on our Mortgage Variable Rate (MVR) of 8.69% (variable) for the remaining 18 years would require 60 monthly payments of £896.04 and 216 monthly payments of £1,196.37.

The total amount payable would be £312,298.32 made up of the loan amount plus interest (£311,179.32), an Application fee of £999 and a Mortgage Discharge Fee of £120.00.

The overall cost for comparison is 7.2% APRC representative.

Please note the example above is for a product switch on a capital and interest repayment basis.