1.00% Self-Build Discount for Term - Arrears

 

Interest Rates

4.49%

Representing a 1.00% discount off our Self-Build Standard Variable Rate which is currently 5.49%.

4.7% APRC 

(The overall cost for comparison)

Main Features

Available for: Purchase and Remortgage 

Min/Max Adv: £100,000/£1,000,000

Max Loan To Value: 85% at End Value, 85% 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% in the first year and 0.5% for the second year (fee waived if completion is 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 two years without incurring a charge. A 1% charge is due on any amount repaid that exceeds 20% per annum in the first year and a 0.5% charge is due on any amount repaid that exceeds 10% per annum for the second year

Restrictions: The mortgage can be repaid on a capital & interest or interest only basis.

Other Features: Available for arrears stage payment releases. 

Please note that we will consider the following:

  • Guarantor mortgages (max 85% LTV)
  • Self-employed applicants with only 1 year's accounts (Max 85% LTV)
  • Joint borrower, sole proprietor
Representative Example

A mortgage of £245,626 payable over 20 years on our discounted rate at 1.00% 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 £1,552.63 plus one initial interest payment amount of £936.68.
 
The total amount payable would be £375,232.88 made up of the loan amount plus interest (£127,941.88) and Arrangement fee (£1,000), Valuation fee (£390), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
 
The overall cost for comparison is 4.7% 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  • All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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