|Product name||Interest-only Fixed rate to 30.09.26|
|Term||1.39% Fixed rate to 30.09.26Followed by 4.49% Variable for remainder of term|
|Overall cost for comparison|
|Early repayment charges|
5.00% of the balance repaid until 30.09.22 then 3.00% until 30.09.24, then 1.00% until 30.09.26
You can repay up to 10% of the capital p.a. without an early repayment charge
|Maximum loan to value||50%|
Your home may be repossessed if you do not keep up repayments on your mortgage.
Fixed rates offer security - the interest rate on the mortgage won't change for an initial period, so the monthly payments will remain the same during this time regardless of whether interest rates rise or fall.
With an Interest-only mortgage your regular mortgage payments only cover the interest charged on the money you've borrowed. So, unless you're making overpayments, you'll still have the total amount you borrowed left to repay when your mortgage comes to an end.
This product is portable and can be transferred from the existing property to a new property.
If the mortgage is paid off before the end of the agreed term, a £125 mortgage exit fee will be payable, plus any applicable early repayment charges.
Application and valuation fees (where applicable) are payable on application, and are non-refundable. The application will not be processed until these fees are received. This means the product is not reserved and a valuation will not be instructed.
We will instruct one valuation (up to a maximum of £670) once we've reviewed your application. Fees will apply if the valuation costs more than £670. The valuation is for our benefit only and used to confirm whether we can lend on the property. It's important to remember that we decide the type of valuation most appropriate to the application; therefore a physical inspection of the property may not be required.
When transferring an existing mortgage, our Remortgage Transfer Service will make moving your mortgage to us even easier. For full details of what's included, please see below.
Launch date 18.06.21