Residential purchase 2 year discount 90% LTV

Residential purchase 2 year discount 90% LTV

There is a minimum mortgage amount of £50,000.00.

This product has a maximum mortgage amount of £500,000.00.

We have a minimum property value of £100,000 which increases to £250,000 for properties located within the M25 corridor.

The maximum loan to value is 90%.

The interest rate is floored which means that the rate cannot fall below 4.70%.

The minimum repayment term is 5 years and the maximum repayment term is 40 years. Maximum term will depend upon individual circumstances, for example applicant age and leasehold property restrictions.

Early Repayment Charges apply during the product term. You can overpay up to 10% of the original mortgage amount each calendar year without charge. However, if the overpayment exceeds 10%, the mortgage is repaid in full, or switched to another product before the end of the product term then the full amount of the Early Repayment Charge will apply.

The Early Repayment Charge will be calculated at:

• 3% of the amount repaid until 28 February 2025; and
• 2% of the amount repaid until 28 February 2027.

The mortgage tariff of charges details the various fees and charges that may apply during the term of your mortgage. To view these, please click here.

A mortgage of £278,131 payable over 35 years initially on a discounted variable rate until Sunday, 28 February 2027, currently 5.45% (equal to a 2.84% discount from our SVR) and then our SVR, currently 8.29% for the remaining term would require an initial payment of £1,526.23 followed by 23 monthly payments of £1,484.51, and 396 monthly payments of £2,014.52.

The total amount payable would be £834,044.88 made up of the mortgage amount plus interest (£555,288.88), with a valuation fee of £325.00, legal fees of £150, a telegraphic transfer fee of £25.00 and mortgage exit fees of £125.00.

The overall cost for comparison is 8.1% APRC representative.