Purchase Only 2 Year Fixed Rate Mortgage
RATES CORRECT AS AT 26 March 2024
Initial rate
5.09%
Fixed up to and inc. 30/06/2026
Then changing to the Society's SVR less a discount of 0.75%, (currently)
7.49%
Up to and inc. 30/06/2029
Then changing to the Society's SVR, (currently)
8.24%
For the remaining term of the mortgage
The overall cost for comparison is
7.7%
APRC
Maximum loan to value
80%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Representative Example
A mortgage of £220,000.00 payable over 25 years initially on a fixed rate for 2 years at 5.09% and then a 0.75% discount on our current Standard Variable Rate of 8.24% giving a rate of 7.49% for 3 years and then on our current Standard Variable Rate of 8.24% for the remaining 20 years would require 24 monthly payments of £1296.34, 36 monthly payments of £1602.05 and 240 monthly payments of £1694.50.
The total amount payable would be £496,499.96 made up of the loan amount plus interest of £275,465.96 and application fee £0, product fee £999, valuation fee £0, funds transfer fee £35.
The overall cost for comparisons is 7.7% APRC representative.
This representative example assumes a mortgage completion date on the 1st day of a calendar month.
The above representative example is for illustration purposes only and may vary depending on your personal circumstances.
Additional features
- Interest calculated daily.
- Maximum loan £1,000,000.
- Free standard valuation up to £999.
- This product is not available to interest only applications.
- 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
- Tapered Early Repayment Charges apply up to and including 30 Jun 2026.
- Only available for house purchases.
Fees
Application Fee (payable on application - non-refundable)
£0
Product Fee (payable on application - this is refundable should the mortgage not complete)
£999
Mortgage Exit Fee
£199