2.30% Eco Self-Build Discount for Term - Advance
Interest Rates

6.94%

Representing a 2.30% discount off our Self-Build Standard Variable Rate which is currently 9.24%

7.3% APRC 

(The overall cost for comparison)

Main Features 

Available for: Purchase and Remortgage

Min/Max Adv: £25,000/£1,000,000

Max Loan To Value: 80% at End value, 80% at Land Value (including arrangement fee)

Arrangement Fee: £1,000 (if the arrangement fee is added to the loan; the loan to value must not exceed the maximum permitted)

Valuation Fee: Payable on application. See Valuation Fee leaflet

Application Fee: £125

Early Repayment Charge (ERC): 1% of the current balance in the first year and 0.5% for the second year (ERC waived if completion before 2 years and customer chooses a residential retention product. Evidence of completion certificate will be required)

Overpayments: 10% of the advance amount can be repaid per annum for the first two years without incurring a charge. A 1% charge is due on any amount repaid that exceeds 10% per annum for the first year and a 0.5% charge is due on any amount that exceeds 10% per annum the following year

Restrictions: This mortgage can be repaid on a capital & interest, interest only or part & part basis. Interest only repayment has a maximum LTV of 75%. 

Other Features: For properties to be built as an Eco Build (as specified in lending criteria). Available for advance stage payment releases. The Society is able to take a charge on a second property, the property must have sufficient equity to cover 50% of the requested loan amount (including the contingency find)

Please note that we will consider the following:

  • Guarantor mortgages (max 75% LTV)
  • Self-employed applicants with only 1 year's accounts (Max 75% LTV)
  • Joint borrower, sole proprietor (up to product LTV limit)
Representative Example

A mortgage of £257,173.00 payable over 23 years on our discounted rate at 2.30% below the Society's Self-Build Standard Variable Rate of 9.24% (variable) for the mortgage term of 23 years would require 276 monthly payments of £1,867.55 plus one initial interest payment of £1,515.84.


The total amount payable would be £518,624.64 made up of the loan amount plus interest (£259,786.64) and Arrangement fee (£1,000), Valuation fee (£390), CHAPS fee (£25),  Application fee (£125) and Discharge fee (£125).
 
The overall cost for comparison is 7.3% APRC representative.

Additional Notes
  • This mortgage summary should be read in conjunction with the Terms and Conditions.
  • All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion
  • Fees and rates may vary according to the individual case. Fees and rates will be confirmed upon application.

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