3 Year Shared Ownership Fixed Rate Mortgage
RATES CORRECT AS AT 03 May 2024
Initial rate
5.44%
Fixed up to and inc. 31/08/2027
Then changing to the Society's SVR less a discount of 0.75%, (currently)
7.49%
Up to and inc. 31/08/2029
Then changing to the Society's SVR, (currently)
8.24%
For the remaining term of the mortgage
The overall cost for comparison is
7.5%
APRC
Maximum loan to value
75%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Representative Example
A mortgage of £100,000.00 payable over 25 years initially on a fixed rate for 3 years at 5.44% and then a 0.75% discount on our current Standard Variable Rate of 8.24% giving a rate of 7.49% for 2 years and then on our current Standard Variable Rate of 8.24% for the remaining 20 years would require 36 monthly payments of £609.88, 24 monthly payments of £725.65 and 240 monthly payments of £767.53.
The total amount payable would be £223,613.48 made up of the loan amount plus interest of £123,578.48 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.
The overall cost for comparisons is 7.5% APRC representative.
This representative example assumes a mortgage completion date on the 1st day of a calendar month.
The above representative example is for illustration purposes only and may vary depending on your personal circumstances.
Additional features
- Interest calculated daily.
- Maximum loan £700,000.
- Not Portable.
- Not Available in Scotland.
- Available between 25% - 75% LTV.
- Free standard valuation up to £999.
- This product is not available to interest only applications.
- 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
- Tapered Early Repayment Charges apply up to and including 31 Aug 2027.
- 90% borrower share available.
Fees
Application Fee (payable on application - non-refundable)
£0
Product Fee (payable on application - this is refundable should the mortgage not complete)
£0
Mortgage Exit Fee
£199