PRODUCT CODE - STL013

This is a 5.94% 2 year variable rate mortgage.  A 40% deposit is required.

This mortgage is available for both house purchase and remortgages.

There is no early repayment charge for this mortgage and no restriction on overpayments.

The minimum loan amount is £30,000 and the maximum loan amount is £500,000.

The maximum term available is 2 years.

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

Please Note:

Applications will need to meet the Society’s standard lending criteria.

Repayments will be required throughout the term of the mortgage and interest will not be rolled up.

This mortgage has a £999 fee which can be added to the mortgage or paid up front.  If adding the fee to the loan amount this must not exceed the maximum LTV. 

This product has a floor rate.

Representative Example

A mortgage of £200,000 payable over 2 years initially on a variable rate for 2 years at 5.94% would require 24 monthly payments of £995.04.

The total amount payable would be £225,020.06 made up of the loan amount plus interest (£224,900.06) an Application fee of £999, a CHAPS Fee of £20.00 and a Mortgage Discharge Fee of £120.00.

The overall cost for comparison is 6.4% APRC representative.

Please note the example above is for a house purchase on an interest only basis.