75% LTV - Discounted Variable
|75% LTV - Discounted Variable||1.19%||3 years||2.95%||75%||2.50% APRC||None||None||Yes|
1.76% discount off Stafford Railway’s Standard Variable Rate (SVR) for three years giving a current variable rate of 1.19%, followed by our SVR for the rest of the term (currently 2.95% variable).
|The overall cost for the comparison||2.50% APRC|
|Discount Period||3 years from completion|
|Minimum Interest Rate||The interest rate on this product will not drop below 1%|
|Maximum Loan||£550,000 (For loans above please refer to The Society)|
|Early Repayment Charges||3% of repaid amount for the first three 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||We will lend throughout England and Wales|
A mortgage of £190,000 payable over 20 years initially on a discounted variable rate of 1.19% for 3 years and then on our Standard Variable Rate (SVR) currently 2.95% (variable) for the remaining 18 years would require 36 monthly payments of £890.00 followed by 204 monthly payments of £1,025.12. The total amount payable would be £241,699.48 made up of the loan amount plus interest (£51,699.48), a valuation fee of £365, a funds transfer fee of £25 and estimated solicitors fees of £145. The overall cost for comparison is 2.50% APRC representative.
- 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 19/10/2021