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Joint Borrower Sole Proprietor 2 Year Fixed

SPECIAL MORTGAGE SCHEME

With effect from 1 August 2022

Available throughout England and Wales

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

A JOINT BORROWER SOLE PROPRIETOR MORTGAGE is designed to help someone to buy a home with the financial assistance of a third party or parties with the only charge being on the property being purchased. The buyer’s income is boosted by that of the third party, for example a parent or guardian, as part of the application but without adding them to the title deeds. The third party whose name will not be on the deeds will be required to take independent legal advice. The advising solicitor must provide written confirmation that they have done so in the Society’s required format before the loan monies can be released.

 
Maximum loan to value available:Fixed for 2 years from date of completionReverts to 1.65% discount off SVR for the next 3 yearsThen reverting for the rest of the term of the mortgage to Standard Variable Rate (SVR)The overall cost for comparison is:
90%4.20% fixed4.79% variable6.44% variable5.7% APRC
Enquire about this 4.20% fixed rateMore information about this 4.20% fixed rate - Joint Borrower Sole Proprietor 2 Year FixedMaximum loan:For details of the maximum loan available for your required loan to value please call our in-house mortgage advisors on 01455 894735.

Maximum loan to value available:Fixed for 2 years from date of completionReverts to 1.65% discount off SVR for the next 3 yearsThen reverting for the rest of the term of the mortgage to Standard Variable Rate (SVR)The overall cost for comparison is:
95%4.35% fixed4.79% variable6.44% variable5.8% APRC
Enquire about this 4.35% fixed rateMore information about this 4.35% fixed rate - Joint Borrower Sole Proprietor 2 Year FixedMaximum loan:For details of the maximum loan available for your required loan to value please call our in-house mortgage advisors on 01455 894735.


Representative example

A mortgage of £213,600.00 (a loan of £212,800.00 plus a completion fee of £800.00 added to the loan), payable over 23 years initially on a fixed rate for two years of 4.35%, then on a discounted variable rate of 4.79% for the next three years and then on our Standard Variable Rate of 6.44% for the remaining 18 years would require 24 monthly payments of £1,225.86, followed by 36 monthly payments of £1,274.57 and 216 monthly payments of £1,442.94.

The total amount payable would be £387,579.20, made up of the loan amount plus interest (£173,380.20), an arrangement fee (£199.00), a legal fee (£250.00) and a mortgage exit administration fee (£150.00).

The overall cost for comparison is 5.8% APRC representative.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Mortgage type

This product belongs to the following type of mortgages:
Fixed Rate Mortgages, Joint Borrower Sole Proprietor Mortgages