PRODUCT CODE - HLET38

This is a 5.54% 2 year discounted variable rate mortgage.  A 25% deposit is required.

This mortgage is available for both house purchases and remortgages.

This product is not available for product switches.

A free valuation package is available for standard remortgages in England, Scotland and Wales.

A 2% early repayment charge will apply if you repay all or part of your mortgage within the first 2 years. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 2 years

The minimum loan amount is £50,000 and the maximum loan amount is £750,000.

The maximum term available is 40 years.

This mortgage has a £995 fee which can be added to the mortgage or paid upfront.  This product has a floor rate.

If the product fee is added to the loan it must not exceed the maximum LTV.

There may be other fees and charges when taking out a mortgage with us – please see mortgage fees and charges for more information

Representative Example

A mortgage of £200,000 payable over 25 years initially on a discount rate for 2 years at 5.54% and then on a discount rate for 3 years at 6.6% and then on our Mortgage Variable Rate (MVR) of 8.54% (variable) for the remaining 20 years would require 24 monthly payments of £928.02, 36 monthly payments of £1,105.58 and 240 monthly payments of £1,430.56.

The total amount payable would be £606,542.05 made up of the loan amount plus interest (£606,422.05), an application fee of £995, a CHAPS Fee of £20.00 and a Mortgage Discharge Fee of £120.

The overall cost for comparison is 8.0% APRC representative.

Please note the example above is for a house purchase on an Interest Only repayment basis.