95% LTV - Variable
|95% LTV - Variable||3.39%||3 Years||3.35%||95%||3.4% APRC||None||None||Yes|
|Starting Rate||0.04% loading on Stafford Railway’s Standard Variable Rate (SVR) currently 3.35% for 3 years giving a current variable rate of 3.39%, followed by the Society’s SVR applicable for the rest of the term|
|The overall cost for the comparison||3.4% APRC|
|Discount Period||3 years from completion|
|Minimum Interest Rate||The interest rate on this product will not drop below 1%|
|Maximum Loan||80% to 85% LTV - £350,000 / 85% to 90% LTV - £300,000 - 90% to 95% LTV - £250,000|
|Early Repayment Charges||Apply if more than 10% of the outstanding balance is repaid each year. 3% of repaid amount for the first 3 years.
|Basic Valuation Fee||Fee applicable (See valuation fees)|
|Minimum Property Value||£100,000|
|Minimum Term||5 years|
|Maximum Term||40 years|
|Maximum Age at Term End||85 (Mortgage must be finished by the oldest applicants 85th birthday)|
|Geographical Restrictions||Postcodes Restricted to: ST14, ST15, ST16, ST17, ST18, ST19, ST20, ST21, WS7, WS11, WS12, WS13, WS15.|
|Representative example||A mortgage of £170,000 payable over 25 years initially on a discounted variable rate of 3.39% for 3 years and then on our Standard Variable Rate (SVR) currently 3.35% (variable) for the remaining 22 years would require 36 monthly payments of £841.06 followed by 264 monthly payments of £837.82. The total amount payable would be £251,942.64 made up of the loan amount plus interest (£81,942.64), a valuation fee of £305, a funds transfer fee of £30 and estimated solicitor’s fees of £145. The overall cost for comparison is 3.4% APRC representative.|
- Available for House Purchase and First Time Buyers up to 95% Loan to Value (LTV).
- This mortgage summary should be read in conjunction with the Terms and Conditions.
- 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.
All rates accurate as of 05/03/2022