|Account||Term||Rate||Reverting to SVR** for the remainder of the term, currently||APRC - The overall cost for comparison is||Maximum loan to value (Variable)||Fees|
|Retirement Interest-only||3 Years||2.99%||4.99%|
Follows SVR with a discount of 2.00%
|4.8%||55%||With LPA - £495 Without LPA - £795|
Repayment method Interest only
Minimum loan £25,000 (P) £40,000 (R)
Minimum property value £125,000
Maximum term NONE – illustration term agreed with borrower
Subject to personal circumstances meeting Lending Policy
Minimum age 55
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 RIO mortgage of £50,000 secured by a first charge on your main residential property, payable over 40 years initially on a discounted variable rate of 2.99% for 3 years and then on our Standard Variable Rate (SVR) of 4.99% (variable) for the remaining 37 years would require 36 monthly payments of £125.82 and 444 monthly payments of £209.98. The total amount payable would be £148,455.64 made up of the loan amount plus interest (£98,455.64) including £495 fee, deeds sealing and dispatch fees of £200.00.
The overall cost for comparison is 4.8% APRC representative.
The actual rate available will depend upon your circumstances. To find out more or request a personalised illustration please see contact details above.
At the end of the discounted period, we can offer you a transfer to a new scheme.
Free standard valuation and free legal fees for switching your existing mortgage to us.
Interest is calculated daily. A European Standards Information Sheet (ESIS) illustration is available on request.
If the account falls into arrears the Society may revert the account to the SVR.
OFFSET SAVINGS FACILITY available up to 80% LTV. MAX 75% of loan balance, available on capital and interest mortgages only.
EARLY REPAYMENT CHARGE 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.
MAXIMUM LOAN of £750,000 up to 65% LTV | MAXIMUM LOAN of £500,000 up to 80% LTV | MAXIMUM LOAN of £200,000 up to 85% LTV
MAXIMUM TERM 40 years | MINIMUM TERM 5 years | MINIMUM AGE 18 years
LTV = Loan to value | SVR = Standard variable rate
APRC = The annual percentage rate charge (APRC) is the total cost of the loan expressed as an annual percentage. The APRC is provided to help you compare different products.