PRODUCT CODE - RFI135

This is a 4.54% 2 year fixed rate mortgage.  A 40% deposit is required.

This mortgage is only available for product switches.

An early repayment charge will apply if you repay all or part of your mortgage within the first 2 years. This charge will be applied on a sliding scale of 3% in the first year and 2% in the second year. 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.

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 fixed rate for 2 years at 4.74% and then on our Mortgage Variable Rate (MVR) of 8.54% for the remaining 21 years would require 24 monthly payments of £899.44 and 252 monthly payments of £1,225.68.

The total amount payable would be £330,577.92 made up of the loan amount plus interest (£329,458.92), an application fee of £999 and a Mortgage Discharge Fee of £120.

The overall cost for comparison is 8.1% APRC representative.

Please note the example above is for a product switch on a Capital and Interest repayment basis