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PRODUCT CODE - STD32

This is a 4.99% 2 year discounted variable rate mortgage.  A 20% deposit is required.

This mortgage is available for both house purchase and remortgages.

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 2% in the first year and 1% 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 £50,000 and the maximum loan amount is £500,000.

The maximum term available is 40 years.

This mortgage has no product fee

This product is only available for self build mortgages, funds are released at the end of each stage following an interim valuation.

This product has a floor rate.

Representative Example

A mortgage of £200,000 payable over 25 years initially on a discounted rate for 2 years at 4.99% and then on our Mortgage Variable Rate (MVR) of 5.54% (variable) for the remaining 23 years would require 24 monthly payments of £831.85 and 276 monthly payments of £923.55.

The total amount payable would be £475,439.20 made up of the loan amount plus interest (£474,889.20) an Application fee of £0, a CHAPS Fee of £20.00, a Valuation fee of £305.00, a Legal fee of £105.00 and a Mortgage Discharge Fee of £120.00.

The overall cost for comparison is 5.6% APRC representative.

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