1.20% Right to Buy Discount for Term Further Advance

 

Interest Rates

3.79%

Representing a 1.20% discount off our Standard Variable Rate 

4.1% APRC 

(The overall cost for comparison)

Main Features

Available for: Right to Buy Further Advances Only  

Min/Max Adv: £5,000/£500,000

Max Loan To Value: 100% of the discounted purchase price, 85% of the full property value (based on total borrowing with the Society) 

Arrangement Fee: None 

Valuation Fee: A revaluation fee of £150 may be applicable. 

Application Fee: £80

Early Repayment Charge (ERC): 1% in the first two years 

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

Restrictions: This mortgage must be repaid on a capital & interest basis. 

Additional borrowing is permitted for home improvements only subject to being no more than 20% of the discounted sum. For funds to be released, we require sight of invoices detailing the costs of any proposed improvements.  

Other Features: None 

Representative Example

A mortgage of £20,000 payable over 17 years on our discounted rate at 1.20% below the Society's Residential Standard Variable Rate of 4.99% (variable) for the mortgage term of 12 years would require 204 monthly payments of £133.14 plus one initial interest payment amount of £64.38

The total amount payable would be £27,479.94 made up of the loan amount plus interest (£7,224.94) and Revaluation Fee (£150), CHAPS fee (£25) and Application Fee (£80). 

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  • All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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