Mortgage Product
Residential 0.21% Discounted Variable Rate (Refurbishment)
Rates effective from: 22/02/2024
Mortgage Product
Rates effective from: 22/02/2024
5.99%
2 years
6.20%
80%
6.4%
£100
£500
Apply if more than 10% of the outstanding balances is repaid each year:
2% of repaid amount for the first 2 years.
A mortgage of £239,995 payable over 25 years initially on a discounted variable rate of 5.99% for 2 years and then on our Standard Variable Rate (SVR) currently 6.20% (variable) for the remaining 23 years would require 24 monthly payments of £1544.82 followed by 276 monthly payments of £1573.97. The total amount payable would be £472691.40 made up of the loan amount plus interest (£232696.40) a valuation fee of £425, a funds transfer fee of £30, estimated solicitor’s fees of £145, application fee of £100, arrangement fee £500. The overall cost for comparison is 6.4% APRC representative.
0.21% discount off The Stafford’s Standard Variable Rate (SVR) for two years giving a current variable rate of 5.99%, followed by our SVR for the rest of the term (currently 6.20% variable).
The interest rate on this product will not drop below 1.50%
Capital Raising, Purchase, Remortgage
£50,000
£660,000 (For loans above, please contact the Society)
Apply if more than 10% of the outstanding balances is repaid each year:
2% of repaid amount for the first 2 years.
£100
£500
Fee Applicable (see valuation fees)
£100,000
5 years
40 years
Interest Only and Repayment
18
85 (subject to proof of pension income post age 75 or declared retirement age, whichever is sooner)
None
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE