PRODUCT CODE - SO2

This is a 4.65% 5 year fixed rate mortgage. A 25% deposit is required.

This mortgage is available for Shared Ownership properties only.

The maximum Loan to Share is 90%. Loan to Share is measured by the amount of the loan against the share being purchased.

The maximum Loan to Value is 75%

Loan to Value is measured by the amount of the loan against the whole property.

This mortgage is available for both residential house purchase and remortgages on a capital and interest basis in England and Wales

This product is not available for product switches.

An early repayment charge will apply if you repay all or part of your mortgage within the first 5 years. This charge will be applied on a sliding scale of 5% in years 1 and 2, 4% in year 3, 3% in year 4 and and 2% in the final year. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 5 years.

The minimum loan amount is £30,000 and the maximum loan amount is £750,000

This product has a cashback feature of £250.

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

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 £110,000 payable over 25 years initially on a fixed rate for 5 years at 4.65% and then on our Mortgage Variable Rate (MVR) of 8.39% (variable) for the remaining 20 years would require 60 monthly payments of £626.57 and 240 monthly payments of £841.79.

The total amount payable would be £239,743.80 made up of the loan amount plus interest (£238,604.80), 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 7.0% APRC representative.

Please note the example above is for a house purchase on a Capital and Interest repayment basis