1.50% Discount for Term Shared Ownership Further Advance
Interest Rates


Representing a 1.50% discount off our Residential Standard Variable Rate 

3.8% APRC 

(The overall cost for comparison)

Main Features

Available for: Shared Ownership Further Advances only

Min/Max Adv: £5,000/£1,000,000

Max Loan To Value: 95% of share owned (based on total borrowing with the Society) 

Arrangement Fee: None 

Valuation Fee: A re-valuation fee of £150 may be applicable  

Application Fee: £80

Early Repayment Charge (ERC): 1% of the current balance for the first year and 0.5% for years two and three

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

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

Confirmation from the Housing Association must be obtained in all cases and additional borrowing for shared ownership can only be considered for purchase of additional/final shares and for home improvements. Additional borrowing for home improvements is allowed up to 95% of the current value of the share owned.

Other Features: N/A

Please note that we will consider the following:

  • Guarantor mortgages (max 95% LTV)
  • Self-employed applicants with only 1 year's accounts (Max 95% LTV)
  • Joint borrower, sole proprietor
Representative Example

A mortgage of £20,000   payable over 17 years on our discounted rate at 1.50% below the Society’s Residential Standard Variable Rate of 4.99% (variable) for the mortgage term of 17 years would require 204 monthly payments of £130.12  plus one initial interest payment amount of £59.28

The total amount payable would be £26,858.76   made up of the loan amount plus interest (£6,603.76) and Revaluation fee (£150), CHAPS fee (£25) and Application Fee (£80) 

The overall cost for comparison is 3.8% 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  • All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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.