TermRateReverting to SVR** for the remainder of the term, currentlyAPRC - The overall cost for comparison isMaximum loan to value (Variable)Fees
Interest-only2 Years5.84%8.24%
Follows SVR with discount of 2.40% (which will not go below a floor rate of 2.50%)
8.1%70%Remortgage Nil

Your home may be repossessed if you do not keep up repayments on your mortgage

Repayment method Interest Only
Minimum loan £25,000 (P) £40,000 (R)
Minimum property value £175,000
Minimum equity £150,000 (this may need to be higher subject to location)
Maximum term: 40 years
Subject to personal circumstances meeting Lending Policy
Only available on properties in England and Wales
The APRC will depend on your individual circumstances

Overpayment of 10% of the mortgage can be repaid each year during the discount period. If an overpayment of more than this amount takes place a 2.00% early repayment charge will be applied.

A Interest Only remortgage of £100,000 secured by a first charge on your main residential property, payable over 25 years initially on a discounted variable rate of 5.84% for 2 years and then on our Standard Variable Rate (SVR) of 8.24% (variable) for the remaining 23 years would require 24 monthly payments of £486.67 and 276 monthly payments of £686.67. The total amount payable would be £301,401.00 made up of the loan amount plus interest (£201,401.00) including deeds sealing and dispatch fees of £200.

The overall cost for comparison is 8.1% APRC representative.

The actual rate available will depend upon your circumstances. To find out more or request a personalised illustration please see contact details below.

Please note: the quoted discount payment rate will not go below a floor rate of 2.50% during the discounted period.

Tel: 01482 881510
Email: mortgages@beverleybs.co.uk

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