A mortgage of £30,000 payable over 14 years on our Standard Variable Rate for the mortgage term of 14 years at our current rate of 4.74% variable, would require 168 monthly payments of £251.00.
The total amount payable would be £42,220.48 made up of the loan amount plus interest (£10,932.48), a product fee (£300), an application fee (£150), a valuation fee (£565), legal fees (£148), an exit fee (£100) and a funds transfer fee (£25).
The overall cost for comparison is 5.4% 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
There is no Early Repayment Charge.
Overpayments may be made at any time and interest will be recalculated from the day following receipt.
If an overpayment of £500 or more is made, we'll recalculate the monthly payment the following month.
This mortgage is available on a capital and interest repayment basis or interest only with a suitable repayment vehicle. Interest only is available only up to 75% LTV. Payments must be made monthly by direct debit.
The minimum age is 18 for all applicants. There is no maximum age. Earned income considered up to age 75. Cases are considered on individual circumstances.
Minimum loan size £50,000.
Maximum loan size £1,000,000 up to 80% and £1,500,000 up to 60% LTV for employed applicants.
Other restrictions on loan size and maximum LTV will apply in some cases.
The maximum mortgage term is 40 years dependent on individual circumstances.
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