1.05% Discount for Term Interest Only Remortgage
Interest Rates

3.94%

Representing a 1.05% discount off our Residential Standard Variable Rate which is currently 4.99% 

4.1% APRC 

(The overall cost for comparison)

Main Features

Available for: Remortgage only

Min/Max Adv: £25,000/£1,000,000

Max Loan To Value: 75% (including arrangement fee) 

Arrangement Fee: £499 (If the arrangement fee is added to the loan; the Loan to Value must not exceed 75%) 

Valuation Fee: N/A

Application Fee: £125

Early Repayment Charge (ERC): 3% in the first three years 

Overpayments: 10% of the advance amount can be repaid per annum for three years without incurring a charge. A 3% charge is due on any amount repaid that exceeds 10% per annum

Restrictions: This mortgage must be repaid on an interest only basis. 

Other Features: Provides both assistance with legal fees and a free valuation. The Society will only cover the costs of core conveyancing, please see the 'LMS Conveyancing: Fees Assisted - England & Wales' document for more details.

The Society will only cover the costs of a basic mortgage valuation. Homebuyers reports will need to be paid for in full by the applicant(s).

Representative Example

A mortgage of £245,626 payable over 20 years on our discounted rate at 1.05% below the Society’s Residential Standard Variable Rate of 4.99% (variable) for the mortgage term of 20 years would require 240 monthly payments of £806.47 plus one initial interest payment amount of £795.42.
 
The total amount payable would be £440,748.22 made up of the loan amount plus interest (£194,348.22) and Arrangement fee (£499), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
 
The overall cost for comparison is 4.1% 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  • All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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