Cashback Purchase Only 2 Year Fixed Rate Mortgage
RATES CORRECT AS AT 10 May 2022
Initial rate
3.42%
Fixed up to and inc. 31/07/2024
Then changing to the Society's SVR less a discount of 1.25%, (currently)
4.29%
Up to and inc. 31/07/2027
Then changing to the Society's SVR, (currently)
5.54%
For the remaining term of the mortgage
The overall cost for comparison is
4.9%
APRC
Maximum loan to value
95%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
The mortgaged property (which may be your home) may be repossessed if you do not keep up repayments on your mortgage
Representative Example
A mortgage of £140,000.00 payable over 25 years initially on a fixed rate for 2 years at 3.42% and then a 1.25% discount on our current Standard Variable Rate of 5.54% giving a rate of 4.29% for 3 years and then on our current Standard Variable Rate of 5.54% for the remaining 20 years would require 24 monthly payments of £694.28, 36 monthly payments of £756.22 and 240 monthly payments of £839.82.
The total amount payable would be £245,477.29 made up of the loan amount plus interest of £105,442.29 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.
The overall cost for comparisons is 4.9% 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 £400,000.
- Minimum loan £50,000.
- £500 Cashback upon completion
- 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 31 Jul 2024.
- 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)
£0
Mortgage Exit Fee
£199
It's not possible to apply for this product online. Please contact our mortgage team using the telephone numbers below.
