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Later Life 2 Year Fixed

SPECIAL MORTGAGE SCHEME

With effect from 9 April 2020

Available throughout England and Wales

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

Mortgage product specifically for later life borrowers who will be either over 75 at the end of their term or borrowing in or into retirement.

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:
70%3.19% fixed4.24% variable5.89%
variable
4.9% APRC
Enquire about this 3.19% fixed rateMore information about this 3.19% fixed rate - Later Life 2 Year FixedMaximum loan:For details of the maximum loan available for your required loan to value please call our Mortgage Department on 01455 894082.


Representative example

A mortgage of £145,131.00 (a loan of £144,331.00 plus a completion fee of £800.00 added to the loan) payable over 16 years initially on a fixed rate for two years of 3.08%, then on a discounted variable rate of 4.24% for the next three years and then on our Standard Variable Rate of 5.89% for the remaining 11 years would require 24 monthly payments of £958.33, followed by 36 monthly payments of £1,032.52 and 144 monthly payments of £1,121.56.

The total amount payable would be £208,815.67 made up of the loan amount plus interest (£63,085.67), an arrangement fee (£199.00), a legal fee
(£250.00), a mortgage exit administration fee (£150.00).

The overall cost for comparison is 5.1% 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, Later life mortgages