PRODUCT CODE - RLET41

This is a 5.09% 2 year discounted variable rate mortgage.  A 35% deposit is required.

This mortgage is only available for product switches.

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 £20,000 and the maximum loan amount is £1,000,000.

The maximum term available is 40 years.

This product has a floor rate.

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 £150,000 payable over 23 years initially on a discounted (variable) rate for 2 years at 5.09% and then on our Buy to Let Mortgage Variable Rate (MVR) of 8.39% for the remaining 21 years would require 24 monthly payments of £640.47 and then 252 monthly payments of £1,055.71.

The total amount payable would be £432,525.21 made up of the loan amount plus interest (£432,405.21), an application fee of £995 and a Mortgage Discharge Fee of £120.00.

The overall cost for comparison is 8.2% APRC representative.

Please note the example above is for a product switch on an Interest Only repayment basis