Our Term Discount Borrowing Into Retirement Mortgage offers a discount of 2.35% off our standard variable rate, currently 5.34%, for the term of the mortgage. The interest rate charged won't fall below 1.5%.
Overall cost for
|Max % LTV||
Minimum £25,000: Maximum £350,000
Loan to value (LTV)
Maximum 60% (subject to the Society's lending policy)
Minimum 2 years: Maximum 35 years
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.
The mortgage product may be transferred to a new mortgage arranged by the borrower(s) subject to the Society’s lending criteria.
The interest rate charged won't fall below 1.5%.
No early repayment charges apply.
Partial Lump Sum Repayment
Partial lump sum repayments of any amount are permitted.
A valuation for mortgage purposes will be required on application, the cost of which must be met by the applicant/s. See separate scale of fees.
On completion, the advance will be released to the appointed Solicitor by CHAPS (Clearing House Automated Payment Service). A fee of £30.00 is payable on completion. This fee can be added to the loan subject to LTV limits.
Mortgage Exit Administration Fee /Additional Fees
£120.00 inclusive of £35.00 Deeds Release Fee and £85.00 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.
The Loughborough mortgage service is tailored to each individual and offered on a fully advised basis where applicable. Our qualified advisers will spend time with you to understand your mortgage needs and financial circumstances before recommending the most suitable solution for you.
There are a number of ways you can arrange to talk to one of our friendly team of Advisers, choose what’s best for you: