3 Year Discount

This 3 Year Buy for Uni Variable Mortgage offers a discount of 0.35% off our standard variable rate, currently 5.34%, for a period of 3 years from completion, followed by our standard variable rate applicable at that time. The interest rate charged won't fall below 2%.

This product is available to student applicants where a cash security is deposited in an Assisted Purchase Deposit Guarantee Account or where a family member has agreed to accept a legal charge* over their residential property.  The Society may consider a combined option of part legal charge* and part cash deposit in an Assisted Purchase Deposit Guarantee Account.

Initial rate Overall cost for
comparison
Max % LTV Completion
fee
Representative
Example
4.99% 5.5% APRC 100% £999 View

Representative example

A Mortgage of  £156,130.00, payable over 6 years and 6 months (78 months) initially on a discounted rate for 3 years (36 months) of 4.99%  and then on our current standard variable rate of 5.34% for the remaining 3 years and 6 months (42 months) would require 36 monthly payments of £649.24 then 42 monthly payments of £694.78. This is based on an interest-only repayment method.  The total amount payable would be £210,770.84 made up of the loan amount plus interest (£53,186.84) and a £200.00 valuation fee, £999.00 completion fee, £30.00 CHAPS fee, £105.00 legal fees, and £120.00 mortgage exit administration fee. The overall cost for comparison is 5.5% representative APRC.

Key Features

Advance        

Minimum £90,000: Maximum £300,000

Loan to Value (LTV)

Maximum 100%  

Term              

Maximum 35 years

Availability

This product is available to student applicants in full-time higher education to purchase accommodation for their own use in their City/Town of study. This property must be in mainland England and Wales, and;

This product is available to student applicants where a cash security is deposited in an Assisted Purchase Deposit Guarantee Account or where a family member has agreed to accept a legal charge* over their residential property.  The Society may consider a combined option of part legal charge* and part cash deposit in an Assisted Purchase Deposit Guarantee Account.

All applications are subject to the Society’s general lending criteria, property value and satisfactory status enquiries. This product is a limited edition and can't be guaranteed until an application has been received.  

Portability

This mortgage product is not portable.

Important Information

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

*Accepting a legal charge against your residential property may make it more difficult to raise capital against any equity and in the event of default your property may be at risk.

You can find details of the Assisted Purchase Deposit Guarantee Account here.

Early Repayment Charge Fees How to apply