7.84% Three Year Fixed Rate Further Advance Residential

Main Features

Available for: Further Advances

Min/Max Adv: £5,000/£1,000,000

Max Loan To Value: 80%

Arrangement Fee: N/A

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

Application Fee: £80

Early Repayment Charge (ERC): 3% of the current balance in the first year and 1% for the second and third years

Overpayments: 10% of the advance amount can be repaid per annum for the first three years without incurring a charge. A 3% charge is due on any amount repaid that exceeds 10% per annum for the first year and a 1% charge is due on any amount that exceeds 10% per annum in years two and three.

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

Other Features: N/A

Please note that we will consider the following:

Guarantor mortgages (max 75% LTV)
Self-employed applicants with only 1 year's accounts (Max 75% LTV)
Joint borrower, sole proprietor (up to product LTV Limit)

Representative Example

A mortgage of £87,734.00 payable over 23 years initially on a fixed rate for 3 years at 7.84% and then reverting to our current Standard Variable Rate of 8.74% (variable) for the remaining 20 years would require 36 monthly payments of £687.07 and 240 monthly payments of £734.10 plus one initial interest payment of £565.34.

The total amount payable would be £201,738.86 made up of the loan amount plus interest (£113,749.86) and Revaluation fee (£150), CHAPS fee (£25) and Application Fee (£80).

The overall cost for comparison is 8.9% APRC representative.

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