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Professional residential fixed rate - 5 years Capital and Interest - Fee offer

For loans up to 90% of property value

Product nameProfessional residential fixed rate - 5 years Capital and Interest - Fee offer
Initial rate2.89%
Initial rate expires on
31st March 2023
Rate thereafterStandard Variable Rate, currently
4.95%
Overall cost for comparison4.2% APRC
Arrangement fee
£0
Option to add arrangement fees to mortgageYes the arrangement fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type
Legal

You’ll normally instruct a solicitor to act on your behalf in connection with your transaction. You may be required to pay legal fees and costs as part of their work on your behalf. These fees/costs are normally charged by the solicitor directly to you, unless we tell you that we’ll contribute to the legal costs as part of your product deal.

Typically you will not need to pay legal fees if:
you are an existing mortgage customer who wishes to re-mortgage with us.
you are a new mortgage customer who wants to switch the mortgage for their current home to us and use our legal panel.

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.

If a valuation report is necessary, we do not charge for the valuation for this product.

Eligibility

Available for purchase and remortgage#, new applications and product transfer. Applicants must be aged 18 or over. All loans are subject to status. Security will be required. Not available for business purposes.

This product is only available where one or more of the applicants are fully qualified and employed in the following occupations: Accountants, Architects, Barristers, Chartered Surveyors, Dentists, Engineers, Financial Advisers, Medical Doctors, Nurses, Optometrists, Pharmacists, Pilots, Police Officers, Solicitors, Teachers, Vets.

Maximum loan amount£750,000
Maximum loan to value90%
Minimum loan amount£80,000
Early repayment charge5% in years one and two
4% in year three
3% in year four
2% in year five
Special offers

£0 arrangement fee
Purchase: Free valuation
Remortgage: Free valuation and legal fees paid#

Special features

At the end of the discounted/fixed period you can make extra payments or repay your whole mortgage without penalty.

# The switching package is only available to applicants moving their mortgage from another lender. If the property is unencumbered, a free valuation is available. Free valuations are available on properties worth £2m, or less. Optima Legal Services will charge a funds transfer fee of £42 to applicants who use the switching package.