Our First Time Buyer (up to 95% LTV) fixed rate to 31 August 2024 is available to Intermediaries to use with their clients across England and Wales.
Please note there is a maximum of 2 applicants allowed and gifted deposits will NOT be accepted.
Our First Time Buyer (up to 95% LTV) fixed rate to 31 August 2024 is available to Intermediaries to use with their clients across England and Wales.
Please note there is a maximum of 2 applicants allowed and gifted deposits will NOT be accepted.
A mortgage loan of £145,443 (which includes a product fee of £350 and a funds transfer fee of £25) payable over 32 years, initially on a fixed rate of 4.39% for 36 months and then on our Standard Variable Rate, currently 4.74%, for the remaining period would require 36 payments of £705.72 and 348 payments of £734.43.
The total amount payable would be £281,395.56 made up of the loan amount plus interest of £135,544.56 plus a valuation fee of £160, legal fees to your solicitor of £148, and exit fee of £100.
The overall cost for comparison is 4.8% APRC representative.
Other charges may be made in respect of mortgage services. See our Fees Guide for details.
This product accepts our standard credit criteria click here for details
Early Repayment Charges as detailed below are payable on any lump sum or full redemption repaid over 10% of the capital balance.
During the early repayment charge period lump sum overpayments up to 10% of the capital balance per annum may be made without attracting an early repayment charge. Should the total of lump sum overpayments exceed 10% within this period, the excess will attract an early repayment charge.
Once the early repayment charge period has ended overpayments can be made at any time.
If an overpayment of £500 or more is made, we will recalculate the monthly payment the following month.
The amount we lend will be based on our assessment of affordability and LTI limits will apply on all cases. Income multiple cap is 4.5 x first income plus 3.5 x second income or 4 x the joint income. Debt consolidation is not available. Gifted deposits are not acceptable.
This mortgage is available on a capital and interest repayment basis only. Payments must be made monthly by direct debit.
The minimum age is 18 for all applicants. There is no maximum age. Cases are considered on individual circumstances.
Minimum loan size £25,000.
Maximum loan size £500,000
The maximum mortgage term is 40 years dependent on individual circumstances.
These products are not available for new build properties.
This product is portable, meaning that if the applicant moves home they can take it with them, subject to our lending criteria at the time.
Interest is calculated daily on the balance outstanding and added to the account the following month.
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In order to apply for one of our mortgages you need to contact a mortgage broker. Mortgage Advice Bureau works with us to provide our customers with expert mortgage and protection advice. To find out more visit Mortgage Advice Bureau