Summary
Term
Initial rate
Followed by
Overall cost
APRC
Fees / Incentives
- Application fee: None
- Product fee: £999 (can be added to mortgage)
- Mortgage exit fee: £125
- Funds transfer fee: £8
- One valuation included
- Remortgage Transfer Service included
Max Loan to Value
LTV
Interest charged frequency
Interest charged
Daily
Product Information
This rate is linked to the independently set Bank of England Base Rate until 30.06.27. This means that your mortgage rate will automatically change in line with any changes to the Base Rate until 30.06.27, subject to the 1.00% floor.
Portability
This product is portable and can be transferred from the existing property to a new property.
Mortgage Exit Fee
If the mortgage is paid off before the end of the agreed term, a £125 mortgage exit fee will be payable, plus any applicable early repayment charges.
Application and Valuation Fees
Application and valuation fees (where applicable) are payable on application, and are non-refundable. The application will not be processed until these fees are received. This means the product is not reserved and a valuation will not be instructed.
We will instruct one valuation once we've reviewed your application. The valuation is for our benefit and used to confirm whether we can lend on the property. It's important to remember that we decide the type of valuation most appropriate to the application; therefore a physical inspection of the property may not be required.
Remortgage Transfer Service
When transferring an existing mortgage, our Remortgage Transfer Service will make moving your mortgage to us even easier. For full details of what's included, please see below.
Additional notes
Overall cost of a mortgage
To help understand the typical cost of this mortgage, please see the representative example below.
Representative example
(This is not an illustration and should only be used as an example)
A mortgage of £208,944.00 starting on 01.01.25 payable over 24 years on an initial tracker rate of 0.70% above the Bank of England Base Rate currently at 4.75% to 30.06.27, then reverting to our standard variable rate currently at 7.24% for the remainder of the mortgage. This would require 29 monthly payments of £1,309.92 and 255 monthly payments of £1,523.12, plus one initial interest payment of £973.03.
The total amount payable would be £427,356.31 made up of the loan amount plus interest of £215,872.31, a valuation fee of £263.00, a product fee of £999.00 and a funds transfer fee of £8.00.
The overall cost for comparison is 7.1% APRC representative.
