0.75% Self-Build Discount for Term - Advance
Representing a 0.75% discount off our Self-Build Standard Variable Rate which is currently 5.49%.
(The overall cost for comparison)
Available for: Purchase and Remortgage
Min/Max Adv: £100,000/£1,000,000
Max Loan To Value: 75% 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): 3% in the first two years
Overpayments: 10% of the advance amount can be repaid per annum for two years without incurring a charge. A 3% charge is due on any amount repaid that exceeds 10% per annum
Other Features: 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 fund).
A mortgage of £245,626 payable over 20 years on our discounted rate at 0.75% below the Society’s Self-Build Standard Variable Rate of 5.49% (variable) for the mortgage term of 20 years would require 240 monthly payments of £1,585.95 plus one initial interest payment amount of £988.83.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE