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Later Life Lifetime Discount

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:Discount of 2.80% off the Society's Standard
Variable Rate for the term of the mortgage
The overall cost for comparison is:
70%3.09% variable 3.2%
APRC
Enquire about this 3.09% variable rateMore information about this 3.09% variable rate - Later Life Lifetime DiscountMaximum 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 £192,593.00 (a loan of £191,793.00 plus a completion fee of £800.00 added to the loan) payable over 13 years on a discounted variable rate of 2.86% for the full term of 13 years would require 156 monthly payments of £1,479.92.

The total amount payable would be £231,435.33 made up of the loan amount plus interest (£38,243.33), an arrangement fee (£199.00), a legal fee (£250.00) and a mortgage exit administration fee (£150.00).

The overall cost for comparison is 3.0% 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:
Discount Mortgages, Flexible Mortgages, Later life mortgages