A mortgage is one of the biggest commitments you will ever make in your life; but that doesn’t mean the decision process has to be daunting. Our simple, straightforward mortgage offers:
- No arrangements fees
- No early redemption charges
- One of the lowest standard variable rates
- Mortgages up to 95% (with appropriate guarantees)
- You will only deal with fully qualified mortgage advisors
- Receive a personalised mortgage recommendation to meet your needs.
- Speak to the same people throughout the processing of your mortgage.
Features of our residential mortgage
*APRs vary with individual circumstances. If you request a written illustration it will include a personalised APR. **A charge of £35 for missed payments may sometimes be imposed. A charge of £25 for telegraphic transfers applies. ***For applications in excess of 75% the Society is prepared to consider a secured guarantee. This can be a charge over a mortgage-free property, or cash lodged with the Society. ****For further details of our higher lending charge please see our Mortgages jargon buster. All information issued by Stafford Railway Building Society about mortgages complies with the requirements of government mortgage regulation. The Society will be required to carry out money laundering checks in respect of all applicants. A full credit reference check will also be completed on all applicants.
Minimum property value £60,000 subject to property type and location Current variable rate: From 3.20% overall cost for comparison 3.3% APR*. Rate increases to 3.75% with higher lending charge****, overall cost for comparison 4.0% APR
Repayment methods: Repayment or interest-only (subject to criteria) Minimum loan: £10,000
(£5,000 for further advances) Maximum loan: 75% of the lower purchase price or valuation maximum £500,000*** Maximum term: 25 years Income: Maximum loan available is subject to affordability Valuation charges at cost (not refundable): Value Fee Value Fee <£100,000 £150 <£450,000 £360 <£150,000 £180 <£500,000 £390 <£200,000 £210 <£750,000 TBA <£250,000 £240 <£1,000,000 TBA <£300,000 £270 Re-inspection TBA <£350,000 £300 Revaluation TBA <£400,000 £330 Early repayment charge: NIL Tie in periods: NIL Payment holiday fee: NIL Overpayments: YES - No penalties apply Underpayments: YES (subject to conditions) Administration fees: NIL** Buildings and Contents Cover: We can arrange a quotation through Royal & Sun Alliance or applicants are free to make their own arrangements without penalty Legal fees: See 'FAQS' section