Mortgage Houses

75% LTV - Discounted Variable Mortgage

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 Mortgage 2.20% (Variable) 2 years 3.45% (Variable) 75% 3.30% APRC None £499 Yes

Product Details

Starting Rate 2.20% variable (1.25% discount off Stafford Railway’s Standard Variable Rate (SVR) currently 3.45% for 2 years giving a current variable rate of 2.20%, followed by the Society’s SVR applicable for the rest of the term)
The overall cost for the comparison 3.30% APRC
Discount Period 2 years from completion
Minimum Interest Rate The interest rate on this product will not drop below 1%
Maximum LTV 75%
Available for
Capital Raising
Movers
Purchase
Remortgage
Minimum Loan £50,000
Maximum Loan £500,000 (For loans above please refer to The Society)
Early Repayment Charges 3% of repaid amount for the first two years.
Application Fee None
Arrangement Fee £499
Basic Valuation Fee Fee applicable (see valuation fees)
Minimum Property Value £100,000
Minimum Term 5 years
Maximum Term 40 years
Repayment Type
Interest Only
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 (correct as of 04/07/2019) A mortgage of £168,800 payable over 20 years initially on a discounted variable rate of 2.20% for 2 years and then on our Standard Variable Rate (SVR) currently 3.45% (variable) for the remaining 18 years would require 24 monthly payments of £844.24 followed by 216 monthly payments of £936.11 The total amount payable would be £223,455.52 made up of the loan amount plus interest (£59,655.52), a valuation fee of £325, a funds transfer fee of £25, estimated solicitors fees of £145 and an arrangement fee of £499. The overall cost for comparison is 3.30% APRC representative.

Notes

  • 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 16 September 2019

Other general mortgage information