Branches & agencies
Retention – Term Discount 5.59% variable (2.45% off Homeowner Variable Rate)
TDO11 With effect from 24 April 2024
Initial Interest Rate
2.45% discount off the Society's Homeowner Variable Rate for the term of the mortgage. Will not go below a floor of 2.25%.
5.59%
variable
Max Loan to Value (LTV)
Maximum loan to value available:
80%
Product Fees
Application fee
Free
Completion fee
Free
Free
Overall Cost for Comparison
The overall cost for comparison
5.7% 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
On a discounted variable rate of 5.59% payable over 26 years
Followed by
N/A
Monthly payments
312 monthly payments of £1,411.31
Total amount payable
The total amount payable would be £440,453.72 made up of the loan amount plus interest (£208,428.72) plus the fees below
Arrangement fee
Free
Mortgage exit administration fee
£125 (non-refundable)
Valuation fee
Free
Cost for comparison
5.7% 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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