|Product name||Offset 1.65% Fixed rate to 30.09.25|
|Term||1.65% Fixed Rate to 30.09.25Followed by Standard Variable Rate for the remainder of the mortgage term, currently 4.49%|
|Overall cost for comparison|
|Early repayment charges|
5.00% of the balance repaid until 30.09.21, then 3.00% until 30.09.23, then 1.00% until 30.09.25
You can repay up to 10% of the capital p.a. without an early repayment charge
|Maximum loan to value||65%|
Your home may be repossessed if you do not keep up repayments on your mortgage.
An Offset mortgage links an Offset savings account to an Offset mortgage to reduce the mortgage interest payable. Interest on the mortgage is charged on the difference between the mortgage and savings balances, and this interest is paid alongside the monthly capital repayment amount. All Offset products benefit from the ability to maybe take additional borrowing at the product rate (up to the Loan to Value limit of the product) and also the flexibility to change between reducing the amount owed on your mortgage or reducing your monthly payments.
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.
This product is portable and can be transferred from the existing property to a new property.
Payment holidays may be allowed on this product, please call us for more information.
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 12.06.20