2 year 5.84% variable rate purchase - (3.65% discount from Society’s BTL SVR)
This product is not available for shared ownership applications
PLEASE NOTE: YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
| Deposit % | Term |
Initial interest rate |
Follow on rate |
Overall cost for comparison |
Max LTV |
Arrangement fee |
Application fee |
|---|---|---|---|---|---|---|---|
| N/A | 2 years | 5.84% |
9.49% |
9.2% APRC | % | £0.00 | £0.00 |
Key features
Rates information
A variable rate, currently 9.49%, with a discount of 3.65% for 2 years, giving a current rate payable of 5.84% followed by our Buy to Let Standard Variable Rate, currently 9.49%, for the remaining term.
The overall cost for comparison is 9.2% APRC representative.
What you pay
- Daily interest
Early repayment charge
If you repay your mortgage or make overpayments in excess of 10% of the outstanding balance in any calendar year during the product term (other than regular repayments due under the mortgage), an Early Repayment Charge equivalent to 3 % of the amount repaid is payable.Representative example
(The example below is to give our customers an indication of the typical cost of an average mortgage with us. It is not specific to you. For more information about this please see the Important Information section below)
A mortgage of £155,000.00 over 27 years initially on a discounted variable rate of 5.84% (equal to a 3.65% discount off our SVR) for 2 years and then our Standard Variable Rate, currently 9.49%, for the remaining term, would require 24 monthly payments of £754.33 and 300 monthly payments of £1218.97. The total amount payable would be £538,904.77 made up of the loan amount plus interest (£383,819.77) with a Mortgage Exit Fee of £85.00. The overall cost for comparison is 9.2% APRC representative.
Please note: this is a representative example for a new mortgage deal.
This information does not contain all of the details you need to choose a mortgage. Make sure that you read the separate Information Sheet before you make a decision. For full details, please call our friendly team on 01202 843545.
Product Reference: 702
Your home may be repossessed if you do not keep up repayments on your mortgage