TermRateReverting to SVR** for the remainder of the term, currentlyAPRC - The overall cost for comparison isMaximum loan to value (Variable)Fees
Interest-only3 Years6.49%8.24%
Follows SVR with discount of 1.75% (which will not go below a floor rate of 2.50%)

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 mortgage of £100,000 secured by a first charge on your main residential property, payable over 25 years initially on a discounted variable rate of 6.49% for 3 years and then on our Standard Variable Rate (SVR) of 8.24% (variable) for the remaining 22 years would require 36 monthly payments of £540.83 and 264 monthly payments of £686.67. The total amount payable would be £300,950.76 made up of the loan amount plus interest (£200,950.76) 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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