95% LTV - Variable
| Mortgage Type |
Initial Rate |
Term | Standard Variable Rate |
Maximum Loan to Value |
Overall Cost for Comparison (APRC) |
Application Fee |
Arrangement Fee |
Early Repayment Charge |
|---|---|---|---|---|---|---|---|---|
| 95% LTV - Variable | 3.39% | 3 Years | 3.35% | 95% | 3.4% APRC | None | None | Yes |
Product Details
| 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 LTV | 95% |
| Available for |
Movers
Purchase
|
| Minimum Loan | £50,000 |
| 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. |
| Application Fee | None |
| Arrangement Fee | None |
| Basic Valuation Fee | Fee applicable (See valuation fees) |
| Minimum Property Value | £100,000 |
| Minimum Term | 5 years |
| Maximum Term | 40 years |
| Repayment Type |
Repayment
|
| Minimum Age | 18 |
| 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. |
| Incentives | None |
| 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. |
Notes
- 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