Retention – 2 Year Discount 5.34% variable (2.45% off Homeowner Variable Rate)
HVD14 With effect from 02 September 2024
Initial Interest Rate
2.45% discount off the Society's Homeowner Variable Rate for 2 years. Will not go below a floor of 2.25%.
5.34%
variable
Max Loan to Value (LTV)
Maximum loan to value available:
90%
Product Fees
Application fee
Free
Completion fee
Free
Free
Overall Cost for Comparison
The overall cost for comparison
7.5% APRC representative
Fee information
Application fee
Free
Completion fee
Free
Valuation fee
Not applicable
Early repayment charge
During year 1: 2% of the amount repaid early plus fees During year 2: 1% of the amount repaid early plus fees
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable if you repay any amount in excess of 10% of the mortgage balance in any one year.
Overpayments
Overpayments of up to 10% per year may be made without incurring the early repayment charge.
Mortgage exit admin fee
£125 (non-refundable)
Representative Example
A Mortgage of
A mortgage of £231,900
Payable term
Payable over 26 years
Initial rate and term
Initially on a discounted variable rate for 2 years of 5.34%
Followed by
Our Homeowner Variable Rate of 7.79% for the remaining 24 years
Monthly payments
24 payments of £1,376.39 followed by 288 payments of £1,714.94
Total amount payable
The total amount payable would be £527,061.08 made up of the loan amount plus interest (£295,036.08) plus the fees below
Arrangement fee
Free
Mortgage exit administration fee
£125 (non-refundable)
Valuation fee
Free
Cost for comparison
7.5% APRC representative
Standard Features
- Available on properties in England and Wales
- Additional borrowing is available for existing mortgages
- Interest calculated on a daily basis
- Portable up to the existing mortgage balance
- Tariff of charges during the life of any mortgage available on request
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