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PRODUCT CODE - BRF06

This is a 4.79% 2 year discounted variable rate mortgage.  A 40% deposit is required.

This mortgage is available for both house purchase and remortgages.

There is no early repayment charge for this mortgage and no restriction on overpayments.

The minimum loan amount is £30,000 and the maximum loan amount is £500,000.

The maximum term available is 2 years.

Please Note:

Applications will need to meet the Society’s standard lending criteria.

Repayments will be required throughout the term of the mortgage and interest will not be rolled up.

This mortgage has a £499 fee which can be added to the mortgage or paid up front.  If adding the fee to the loan amount this must not exceed the maximum LTV.  This product has a floor rate.

Representative Example

A mortgage of £90,000 payable over 2 years initially on a discounted rate for 2 years at 5.79% would require 24 monthly payments of £436.78.

The total amount payable would be £101,501.72 made up of the loan amount plus interest (£100,487.72) an Application fee of £499, a CHAPS Fee of £20.00, a Valuation fee of £270.00, a Legal fee of £105.00, and a Mortgage Discharge Fee of £120.00.

The overall cost for comparison is 6.6% APRC representative.

Please note the example above is for a house purchase on an interest only basis..