5 Year Fixed Rate at 4.85%

PRODUCT CODE - RFI237

This is a 4.85% 5 year fixed rate mortgage.  A 15% 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 4.85% and then on our Mortgage Variable Rate (MVR) of 7.99% for the remaining 18 years would require 60 monthly payments of £908.83 and then 216 monthly payments of £1,143.43.

The total amount payable would be £301,630.53 made up of the loan amount plus interest (£301,510.53), an application fee of £999.00 and a Mortgage Discharge Fee of £120.00.

The overall cost for comparison is 6.8% APRC representative.

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