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PRODUCT CODE - DS332

This is a 2.09% 2 year discounted variable rate mortgage.  A minimum 20% deposit is required.

This mortgage is available for both house purchase and remortgages.

A valuation package is available for purchases and remortgages. Free legal package available in England and Wales with a contribution towards legal fees in Scotland available on remortgages only 

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

The minimum loan amount is £30,000 and the maximum loan size is £800,000.

The maximum term available is 40 years.

This product has a floor rate.

Representative Example

A mortgage of £200,000 payable over 25 years initially on a discount rate for 2 years at 2.09% and then on our Mortgage Variable Rate (MVR) of 5.14% (variable) for the remaining 23 years would require 24 monthly payments of £856.58  and 276 monthly payments of £1,160.01.

The total amount payable would be £341,250.68 made up of the loan amount plus interest (£340,805.68) an Application fee of £0, a valuation fee of £305 a CHAPS Fee of £20 and a Mortgage Discharge Fee of £120.

The overall cost for comparison is 4.7% APRC representative.

Please note the example above is for a house purchase on an Capital and Interest repayment basis.