Borrowing into retirement
3 Year Fixed

Our 3 Year Fixed Borrowing Into Retirement Mortgage offers a fixed rate of 3.39% for a period of 3 years from completion, followed by our standard variable rate currently 5.34%. The SVR interest rate charged won't fall below 2%.

Initial rate Overall cost for
comparison
Max % LTV Completion
fee
Representative
Example
3.39% 5.1% APRC 60% £0 View

Representative example

A Mortgage of  £89,000.00, payable over 17 years and 3 months (207 months) initially on a fixed rate for 3 years (36 months) of 3.39% and then on our current standard variable rate of 5.34% for the remaining 14 years and 3 months (171 months) would require 36 monthly payments of £251.43 then 171 monthly payments of £396.05 on an interest only basis. The total amount payable would be £166,601.48 made up of the loan amount plus interest (£77,056.48) and a £290.00 valuation fee, £30.00 CHAPS fee, £105.00 legal fees, and £120.00 mortgage exit administration fee. The overall cost for comparison is 5.1% representative APRC.

Key Features

Advance
Minimum £25,000: Maximum £350,000

Loan to value (LTV)
Maximum 60% (subject to the Society's lending policy)

Term
Minimum 3 years: Maximum 35 years

Availability
This product is available to applicants who are either;

a) aged 80 on application or

b) will be 80 or over at the end of their mortgage term

The product is available for the purchase or re-mortgage of property in mainland England and Wales for the applicants own use. 

All applications are subject to the Society’s lending criteria, property value and satisfactory status enquiries. 

This product is a limited edition and cannot be guaranteed until an application has been received

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

Important Information  

The interest rate charged won't fall below 2%.

Early Repayment Charge Fees How to apply