BUILDLOAN EXCLUSIVE Advance Stage Payment - 2 year Discount at 5.59%

PRODUCT CODE - SBL036

This is a 5.59% 2 year discounted variable rate mortgage.  A 30% deposit is required.

This product is only available for self-build mortgages and is exclusive to BuildLoan.

No early repayment charge applies, and there are no restrictions on overpayments.

When the build is complete, the customer will be able to switch to one of the Society's residential products

The minimum loan amount is £50,000 and the maximum loan amount is £1,500,000.

The maximum term available is 40 years.

This mortgage has a £1,500 fee which can be added to the mortgage or paid up front. 

This product is an advance stage payment mortgage meaning funds are released at the start of each stage.

This product has a floor rate of 3.00%

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 £1,500,000 payable over 25 years initially on a discount rate for 2 years at 5.59% and then on our Mortgage Variable Rate (MVR) of 7.99% for the remaining 23 years would require 24 monthly payments of £6,994.60 and then 276 monthly payments of £9,997.65.

The total amount payable would be £4,428,867.89 made up of the loan amount plus interest (£4,428,747.89), an application fee of £1,500.00, a CHAPS fee of £25.00 and a Mortgage Discharge Fee of £120.00.

The overall cost for comparison is 7.9% APRC representative.

Please note the example above is for a house purchase on an Interest Only repayment basis