Mortgage Houses

75% LTV - Discounted Variable - Complex Mixed Use

Mortgage
Type
Initial
Rate
Term Standard
Variable
Rate
Maximum
Loan
to Value
Overall Cost
for Comparison
(APRC)
Application
Fee
Arrangement
Fee
Early
Repayment
Charge
75% LTV - Discounted Variable - Complex Mixed Use 2.70% (Variable) 2 years 2.95% (Variable) 75% 2.90% APRC £100 0.50% (Min. £500) Yes

Product Details

Starting Rate 2.70% variable (0.25% discount off Stafford Railway’s Standard Variable Rate (SVR) currently 2.95% for 2 years giving a current variable rate of 2.70%, followed by the Society’s SVR applicable at the time for the rest of the term)
The overall cost for the comparison 2.90% APRC
Discount Period 2 years from completion
Minimum Interest Rate The interest rate on this product will not drop below 1.00%
Maximum LTV 75%
Available for
Capital Raising
Movers
Purchase
Remortgage
Minimum Loan £100,000
Maximum Loan £500,000
Early Repayment Charges Apply if more than 10% of the outstanding balances is repaid each year:
Year 1: 3% of repaid amount
Year 2: 3% of repaid amount
Application Fee £100
Arrangement Fee 0.50% (Min. £500)
Basic Valuation Fee Fee applicable (See valuation fee)
Minimum Property Value £250,000
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 We will lend throughout England and Wales
Incentives None
Representative example A mortgage of £225,000 payable over 22 years initially on a discounted variable rate of 2.70% for 2 years and then on our Standard Variable Rate (SVR) currently 2.95% (variable) for the remaining 20 years would require 24 monthly payments of £1,131.24 followed by 240 monthly payments of £1,157.23. The total amount payable would be £306,763.96 made up of the loan amount plus interest (£81,763.96), a valuation fee of £485 a booking fee of £100, a funds transfer fee of £25, estimated solicitors fees of £145 and an arrangement fee of £1,125. The overall cost for comparison is 3.00% APRC representative.

Notes

This mortgage summary should be read in conjunction with the Terms and Condition

Complex Mixed use is classed as;

1. Property Renovations
2. Main home with more than 3 outbuildings

3. Main home with up to 3 outbuildings (one or all rented out)

All rates correct as of 22/02/2021

Other general mortgage information