3 Year Shared Ownership Fixed Rate Mortgage
RATES CORRECT AS AT 27 Sep 2019
Initial rate
3.49%
Fixed up to and inc. 31/01/2023
Then changing to the Society's SVR less a discount of 1.25%, (currently)
4.44%
up to and inc. 31/01/2025
Then changing to the Society's SVR, (currently)
5.69%
For the remaining term of the mortgage
The overall cost for comparison is
5.0%
APRC
Maximum loan to value
75%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Representative Example
A mortgage of £90,000.00 payable over 25 years initially on a fixed rate for 3 years at 3.49% and then a 1.25% discount on our current Standard Variable Rate of 5.69% for 2 years and then on our current Standard Variable Rate of 5.69% for the remaining 20 years would require 36 monthly payments of £449.68, 24 monthly payments of £491.79 and 240 monthly payments of £545.83.
The total amount payable would be £159,025.06 made up of the loan amount plus interest of £68,990.06 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.
The overall cost for comparisons is 5.0% 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
- 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 31 Jan 2023.
- Free standard valuation up to £999.
- Maximum loan £500,000.
- Interest calculated daily.
- This product is not available to interest only applications.
- 90% borrower share available.
| 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 |