Mortgage Houses

75% LTV - Discounted Variable - Light 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 - Light Mixed Use 2.90% 2 years 3.60% 75% 3.6% APRC £100 0.50% (Min. £500) Yes

Product Details

Starting Rate 0.70% discount off Stafford Railway’s Standard Variable Rate (SVR) currently 3.60% for 2 years giving a current variable rate of 2.90%, followed by the Society’s SVR applicable at the time for the rest of the term)
The overall cost for the comparison 3.6% 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 £170,000 payable over 25 years initially on a discounted variable rate of 2.90% for 2 years and then on our Standard Variable Rate (SVR) currently 3.60% (variable) for the remaining 23 years would require 24 monthly payments of £797.35 followed by 276 monthly payments of £855.74. The total amount payable would be £256,750.64 made up of the loan amount plus interest (£86,750.64), a valuation fee of £305, a funds transfer fee of £30, estimated solicitor’s fees of £145, an application fee of £100 and an arrangement fee of £850. The overall cost for comparison is 3.6% APRC representative.

Notes

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

Light Mixed Use is classed as;

  1. Properties where the title includes agricultural  tie, overage or planning which requires commercial activities to be undertaken on the site.
  2. Listed properties.
  3. 4 applicants and 4 incomes
  4. Property knock through.
  5. Main home with up to 3 outbuildings (not rented out)

All rates correct as of 28/06/2022.

Other general mortgage information