BUILDLOAN EXCLUSIVE - Advance Stage Payment - Discount at 5.39%

THIS PRODUCT IS ONLY AVAILABLE FOR PROPERTIES WITH AN LA, CA, PR & FY POSTCODE

PRODUCT CODE - STD224

This is a 5.39% 2 year discounted variable rate mortgage.  A 20% 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.

A free valuation package is available for standard purchases and remortgages in England, Scotland and Wales.

If the build completes within the initial 2 year period then 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 £750,000.

The maximum term available is 40 years.

This mortgage has a £1,500 fee.

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 £200,000 payable over 25 years initially on a discount rate for 2 years at 5.39% and then on our Mortgage Variable Rate (MVR) of 7.99% for the remaining 23 years would require 24 monthly payments of £905.18 and then 276 monthly payments of £1,341.82.

The total amount payable would be £593,711.81 made up of the loan amount plus interest (£593,591.81), 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.