Service Level Agreements
The service we provide is our commitment to you and your client(s). We’re currently operating within the following SLAs for mortgage applications.
- Underwriter assessment within 10 working days following receipt of documents.
- Responding to query emails – 48 hours.
- Assessing valuations – 48 hours.
- Assessing completions – 24 hours.
- Responding to solicitors’ emails – 24 hours.
Product Name | Product Code | Initial Rate | Maximum Loan to Value | Overall Cost for Comparison (APRC) | Early Repayment Charge |
---|---|---|---|---|---|
Residential | |||||
Residential 0.46% Discounted Variable Rate | DR48 | 5.74% | 80% | 6.3% | Yes |
Residential 0.65% Discounted Variable Rate | DR51 | 5.55% | 80% | 6.3% | Yes |
Residential 0.21% Discounted Variable Rate (Refurbishment) | DR52 | 5.99% | 80% | 6.4% | Yes |
Early Repayment Charge Free | |||||
90% LTV – Variable | RSVR | 6.20% | 90% | 6.4% | No |
Joint Borrower Sole Proprietor | |||||
Joint Borrower Sole Proprietor (JBSP) | DR50 | 5.65% | 90% | 5.8% | Yes |
Shared Ownership | |||||
Shared Ownership for Term | DR49 | 5.65% | 90% of share | 5.8% | Yes |
Buy to Let & Holiday Buy to Let | |||||
70% LTV – Discounted Variable | BL04 | 5.65% | 70% | 7.7% | Yes |
-
Residential
Residential 0.46% Discounted Variable Rate
Code: DR48-
Initial Rate
5.74%
-
Term
2 years
-
Standard Variable Rate
6.20%
-
Maximum Loan to Value
80%
-
Overall Cost for Comparison
6.3% APRC
Fees & Charges
-
Application Fee
£100
-
Arrangement Fee
None
-
Early Repayment Charges
Apply if more than 10% of the outstanding balance is repaid each year. 3% of repaid amount for the first two years.
-
-
Residential
Residential 0.65% Discounted Variable Rate
Code: DR51-
Initial Rate
5.55%
-
Term
2 years
-
Standard Variable Rate
6.20%
-
Maximum Loan to Value
80%
-
Overall Cost for Comparison
6.3% APRC
Fees & Charges
-
Application Fee
£100
-
Arrangement Fee
£500
-
Early Repayment Charges
Apply if more than 10% of the outstanding balances is repaid each year: 3% of repaid amount for the first 2 years.
-
-
Residential
Residential 0.21% Discounted Variable Rate (Refurbishment)
Code: DR52-
Initial Rate
5.99%
-
Term
2 years
-
Standard Variable Rate
6.20%
-
Maximum Loan to Value
80%
-
Overall Cost for Comparison
6.4% APRC
Fees & Charges
-
Application Fee
£100
-
Arrangement Fee
£500
-
Early Repayment Charges
Apply if more than 10% of the outstanding balances is repaid each year: 3% of repaid amount for the first 2 years.
-
-
Early Repayment Charge Free
90% LTV – Variable
Code: RSVR-
Initial Rate
6.20%
-
Term
Term
-
Maximum Loan to Value
90%
-
Overall Cost for Comparison
6.4% APRC
Fees & Charges
-
Application Fee
£0
-
Arrangement Fee
None
-
-
Joint Borrower Sole Proprietor
Joint Borrower Sole Proprietor (JBSP)
Code: DR50-
Initial Rate
5.65%
-
Term
Term
-
Standard Variable Rate
6.20%
-
Maximum Loan to Value
90%
-
Overall Cost for Comparison
5.8% APRC
Fees & Charges
-
Application Fee
£100
-
Arrangement Fee
None
-
Early Repayment Charges
Apply if more than 10% of the outstanding balance is repaid each year. 3% of repaid amount for the first two years.
-
-
Shared Ownership
Shared Ownership for Term
Code: DR49-
Initial Rate
5.65%
-
Term
Term
-
Standard Variable Rate
6.20%
-
Maximum Loan to Value
90% of share
-
Overall Cost for Comparison
5.8% APRC
Fees & Charges
-
Application Fee
£100
-
Arrangement Fee
None
-
Early Repayment Charges
Apply if more than 10% of the outstanding balance is repaid each year. 2% of repaid amount in Year 1 1% of repaid amount in Year 2
-
-
Buy to Let & Holiday Buy to Let
70% LTV – Discounted Variable
Code: BL04-
Initial Rate
5.65%
-
Term
2 years
-
Standard Variable Rate
8.00%
-
Maximum Loan to Value
70%
-
Overall Cost for Comparison
7.7% APRC
Fees & Charges
-
Application Fee
£100
-
Arrangement Fee
None
-
Early Repayment Charges
Apply if more than 10% of the outstanding balances is repaid each year: 3% of repaid amount for the first 2 years.
-
Self-build and renovation
The Stafford Building Society offers self-build mortgages exclusively through Buildstore Mortgage Services. We offer self-build mortgages on the following criteria:
- Purchase of land and build of a new property
- Renovation of an existing property
- Converting an existing structure for residential purposes
Fair Value Assessment
These Fair Value Assessment documents are being provided to you to fulfil our responsibilities under PRIN 2A.4.15R and PRIN 2A.3.12 R (2).
They are designed to support you to comply with your responsibilities under PRIN 2A.3.16 R and PRIN 2A.4.16 R. You are ultimately responsible for meeting your obligations under ‘The Consumer Duty’.
PLEASE NOTE: This information is intended for intermediary use only and should not be provided to clients.