Mortgage Product

Mixed Use Variable Rate For Term SVR +0.24%

Product Code: VR02

Rates effective from: 01/10/2025

  • Initial Rate

    5.59%

  • Term

    For Term

  • Standard Variable Rate

    5.35%

  • Maximum Loan to Value

    80%

  • Overall Cost for Comparison (APRC)

    5.8%

  • Application Fee

    £100

  • Arrangement Fee

    None

  • Early Repayment Charges

    Apply if more than 10% of the outstanding balances is repaid each year:

    2% of repaid amount for the first 2 years.

Representative Example

A mortgage of £274,917 payable over 23 years on a loaded variable rate of 5.59% for term would require 276 monthly payments of £1,772.00. The total amount payable would be £491,282.00 made up of the loan amount plus interest (£216,365.00) a valuation fee of £1,935.00 a funds transfer fee of £30, estimated solicitor’s fees of £145 and an application fee of £100. The overall cost for comparison is 5.8% APRC representative.

 

Product Details

Starting Rate

+0.24% above The Stafford’s Standard Variable Rate (SVR) for term giving a current variable rate of 5.59%, (current Standard Variable Rate is 5.35%).

Minimum Interest Rate

The interest rate on this product will not drop below 1.50%

Available for

Capital Raising, Purchase, Remortgage

Minimum Loan

£200,000

Maximum Loan

Less than £1,350,000 (For loans above, please contact the Society)

Early Repayment Charges

Apply if more than 10% of the outstanding balances is repaid each year:

2% of repaid amount for the first 2 years.

Application Fee

£ 100

Arrangement Fee

None

Basic Valuation Fee

Fee Applicable (see valuation fees)

Minimum Property Value

£250,000

Minimum Term

2 years

Maximum Term

Varies according to age

Repayment Type

Interest Only and Repayment

Minimum Age

18

Maximum Age at Term End

85 (subject to proof of pension income post age 75 or declared retirement age, whichever is sooner)

Incentives

None

Additional Notes

  • This mortgage summary should be read in conjunction with the Terms & Conditions.
  • We will lend throughout England and Wales only.
  • This information does not contain all of the details you need to choose a mortgage. You will need to obtain an ESIS before you make a decision. Please contact the Society to discuss your requirements.
  • Interest is calculated on a daily basis.
  • Up to 60% of the available floor space/land directly connected to the residential property can be used for a wide variety of commercial purposes, such as DIY Liveries, small scale agricultural/horticultural enterprise, properties with a garage or outbuilding converted as a consulting room, grooming parlour or similar, or more than one outbuilding or annex which is used or which could be for Holiday Let or Buy to let purposes. Please contact us to discuss your exact requirements.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE