RESIDENTIAL
Rate
Lifetime Tracker
Tracks the Bank of England Base Rate for the life of the mortgage plus 2.3% (current tracker rate 2.8%). The overall cost for comparison is 2.9% APR.
Loan to Value Limits (LTV)
For properties valued up to £250,000, we will lend up to 75%.
For properties valued over £250,000, we will lend up to 70%.
Restrictions apply on loans over £1 Million and for leasehold properties.
Fees
The valuation cost is paid for at the time of application and depends on property value.
There is an arrangement fee; the precise amount will depend upon the amount borrowed (please see below).
LOAN AMOUNT |
ARRANGEMENT FEE |
|---|---|
up to and including £150,000 |
£995 |
over £150,000 and up to and including £500,000 |
£1,495 |
over £500,000 and up to and including £1,000,000 |
£2,495 |
loans over £1,000,000 |
0.5% of the loan amount |
There is a £35 telegraphic transfer fee for wiring the loan amount to your nominated Solicitor.
£75 deeds discharge fee when your mortgage is redeemed fully.
Early Repayment Charge (ERC)
Applies in the first year if the loan is fully repaid and is calculated at 1% of the original loan advance.
Overpayments
Permitted up to any amount and will trigger the ERC mentioned above if the loan is fully redeemed in the first year.
Interest Calculation
Daily
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
FURTHER INFORMATION
For further information, please email Retail Banking or your nearest branch (see below) to find out more or make an appointment.
MAKING AN APPLICATION
Our branch-based loan officers are responsible for managing your application. Please contact your nearest branch for more information and arrange an appointment. When making an application, the following documents should be taken to your branch meeting in order to speed up the application process:-
- Valid passport
- Last 3 months bank statements
- Last 3 months payslips and most recent P60
- If self-employed then last 3 years audited accountants or SA302 Tax Calculation Forms from HMRC (for applicants who complete their tax returns through self assessment)
- Proof of deposit (for purchases only)