For loans up to 95% of property value
|Product name||First time buyer - 2 years fixed up to 500,000 GBP|
|Initial rate expires on|
31st March 2020
|Rate thereafter||Standard Variable Rate, currently |
|Overall cost for comparison||4.90% APRC|
|Option to add arrangement fees to mortgage||Yes (but be aware that if the total amount borrowed including fees exceeds the loan to value above, a higher interest rate will apply).|
|Legal and Valuation Fees|
The valuation report is used to calculate how much we’ll lend you. This is separate from any valuation or survey of the property you might want to instruct for your own purposes. There are other homebuyers, home report or structural survey options available if you want to commission these.
Typically you will not have to pay a valuation fee if: you are an existing mortgage customer who wishes to re-mortgage their current house with us. you are a new mortgage customer who wants to switch the mortgage for their current home to us.
*Please note that if you are changing the terms of the original mortgage e.g. borrowing an additional amount, changing the duration of the mortgage or changing repayment terms, a valuation will be required and a fee will be payable where applicable.
|Eligibility||Available for first time buyer purchase only. Applicants must be aged 18 or over. All loans are subject to status. Security will be required|
|Maximum loan amount||£500,000|
|Maximum loan to value||95%|
|Minimum loan amount||£80,000|
|Early repayment charge||3% in year one|
2% in year two
|Special offers||£0 arrangement fee|
At the end of the discounted/fixed period you can make extra payments or repay your whole mortgage without penalty.