2 Year 3.35% Fixed Rate (Product rate 3.35% APR 5.0%)

TITLE

2 Year 3.35% Fixed Rate -  Maximum LTV 85%    Product 00282

3.35%    The overall cost for comparison is 5.0% APR

Advance -

Minimum £25,000 : Maximum £200,000

Loan to Value (LTV) -

Maximum 85% (the maximum LTV's are subject to the Society's lending policy)

Term -

Minimum 2 years : Maximum 35 years

Completion Fee

£499     This fee can be added to the loan on completion (subject to LTV limits).

Portable?

Yes        The mortgage product may be transferred to a new mortgage arranged by the borrower(s) subject to the Society’s lending criteria.

EARLY REPAYMENT CHARGE

Full Repayment -

An early repayment charge equivalent to 5% of the advance applies if the loan is repaid in full within the first 2 years.  Thereafter the Society’s standard repayment charges will apply – see Tariff of Charges.  Early repayment charge will be waived if the borrower(s) take out a new mortgage with the Society or dies before the end of the mortgage term.

Partial Lump Sum Repayment –

Up to 10% of the advanced amount may be repaid in any year of the product rate period without charge. Repayments made above the 10% limit will be subject to a charge equivalent to 5%.

This product is available for the purchase or re-mortgage of residential property in mainland England & Wales for the applicants own use. All applications are subject to the Society’s general lending criteria, property value and satisfactory status enquiries. This product is a limited edition and cannot be guaranteed until an application has been received.

Valuation Fee -

A valuation for mortgage purposes will be required, the cost of which must be met by the applicant.  See separate scale of fees. 

Higher Lending charge -

For loans above 75% LTV the Society will arrange mortgage indemnity insurance.  For mortgages up to and including 85% LTV, this charge will be paid by the Society.

Own Insurance Fee -

The arrangement of suitable buildings insurance is a condition of any mortgage offer made. There is an administration fee of £30 which will be added to the mortgage account on completion should you decide to insure your property with another provider.

CHAPS Fee -

On completion, the advance will be released to the appointed Solicitor by CHAPS (Clearing House Automated Payment Service). A fee of £30 will be added to the mortgage account on completion to pay for this service.

Mortgage Exit Administration Fee/ Additional Fees -

£140.00 inclusive of £50.00 Deeds Release Fee & £90.00 Sealing Fee  Additional administration fees may apply during the life of your mortgage. Details of these can be found in the Tariff of Charges leaflet.