Offset Interest-only Fixed rate to 30.06.27

Rate

5.26%

5.26% Fixed Rate to 30.06.27

Followed by:

APRC

7.0%

Early repayment charge

Yes

Product fee

£999

Summary

Term

Initial rate

5.26%
5.26% Fixed Rate to 30.06.27

Followed by

7.24%
7.24% Variable for remainder of term

Overall cost

APRC

7.0%

Fees / Incentives

  • Application fee: None
  • Product fee: £999 (can be added to mortgage)
  • Mortgage exit fee: £125
  • Funds transfer fee: £8
  • One standard valuation included
  • Remortgage Transfer Service included
Find out more about our remortgage options.

Early repayment charges

2.50% of the balance repaid until 30.06.26, then 2.00% of the balance repaid until 30.06.27

You can repay up to 10% of the capital p.a. without an early repayment charge

Max Loan to Value

LTV

50%

Interest charged frequency

Interest charged

Daily

Product Information

Fixed rates offer security - the interest rate on the mortgage won't change for an initial period, so the monthly payments will remain the same during this time regardless of whether interest rates rise or fall.

With an Interest-only mortgage your regular mortgage payments only cover the interest charged on the money you've borrowed. So, unless you're making overpayments, you'll still have the total amount you borrowed left to replay when your mortgage comes to an end.

An Offset mortgage links an Offset savings account to an Offset mortgage to reduce the mortgage interest payable, and either make part of your scheduled monthly payment available to reduce your loan at the end of your interest only mortgage, or reduce your monthly payment.Interest on the mortgage is charged on the difference between the mortgage and savings balances, however you will not receive interest on the amount in your Offset Savings Account, even if the amount is greater than the balance owing under your mortgage.This Offset product benefits from the ability to maybe take additional borrowing at the product rate (up to the Loan to Value limit of the product).

Portability

This product is portable and can be transferred from the existing property to a new property.

Payment Holidays

Payment holidays are not allowed on this product.

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.

Cashback

The cashback incentive (if applicable) will be paid into the specified account from the application form and will be paid via faster payment within 30 days of the mortgage completing.

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 fixed rate of 5.26% 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 £1,286.49 and 255 monthly payments of £1,521.08, plus one initial interest payment of £939.11.

The total amount payable would be £426,122.72 made up of the loan amount plus interest of £214,638.72, 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 7.0% APRC representative.

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