4.25% (0.25% Discount for 2 years) 75% LTV – Self Build


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Description: A variable rate, currently 4.50% with a discount of 0.25% for 2 years, giving a current rate payable of 4.25%
Product Features: You may reduce your balance by up to 10% p.a without an early repayment charge being levied

Interest only option until final stage released

You can select a new product when final stage released and property completion certificates received

SVR: Our Standard Variable Rate is currently 4.50%
Fees: £100 Stage Release Fee (can be added to loan)

£75 Re-inspection Fee (can be added to loan)

£495 Arrangement Fee

Valuation Fee Scale:

£0.00 – £300,000: £245

£300,001 – £500,000: £395

£500,001 +: £495

Max LTV: 75%
Overall Cost for Comparison: 4.59% APRC
Early Repayment Charges: 2% of balance repaid in year 1,
1% of balance repaid in year 2

At the end of the variable rate period as detailed above, your mortgage will revert to our Standard Variable Rate (SVR) applicable at the time. Our Standard Variable Rate is currently 4.50%.

Representative Example

Based on an assumed completion date of 13/1/2017, a mortgage of £120865 payable over 33 years, initially on our 4.25% variable rate until 13/1/2019, followed by our Standard Variable Rate currently 4.5% for the remaining 31 years, would require 24 monthly payments of £568.17 and 372 monthly payments of £585.62.

The total amount payable would be £231486.72 made up of the loan amount plus interest of £110621.72 plus an Arrangement Fee (£495), Stage Release Fee (£100), Valuation Fee (£245) and Funds Release Fee (£25).

The overall cost for comparison is 4.59% APRC.