Remortgage Only 2 Year Fixed Rate Mortgage
RATES CORRECT AS AT 07 March 2024
Initial rate
5.94%
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
7.8%
APRC
Maximum loan to value
90%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Your property could be repossessed if you don't keep up your mortgage repayments.
Representative Example
A mortgage of £180,000.00 payable over 25 years initially on a fixed rate for 2 years at 5.94% 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 £1151.95, 36 monthly payments of £1317.28 and 240 monthly payments of £1393.30.
The total amount payable would be £409,495.88 made up of the loan amount plus interest of £229,460.88 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.
The overall cost for comparisons is 7.8% 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 £600,000.
- The Society will assist in covering the basic legal costs of a standard re-mortgage.
- 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.
- This product is available for remortgage only
Fees
Application Fee (payable on application - non-refundable)
£0
Product Fee (payable on application - this is refundable should the mortgage not complete)
£0
Mortgage Exit Fee
£199
Like the sound of this mortgage?
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If you’d prefer to get some advice, you can make an appointment to speak to one of our qualified mortgage advisers. They’ll advise you on which mortgage is suitable for you based on your needs and circumstances.
