TermRateReverting to SVR** for the remainder of the term, currentlyAPRC - The overall cost for comparison isMaximum loan to value (Variable)Fees
Retirement Interest-only3 Years5.99%8.24%
Follows SVR with discount of 2.25% (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 £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 £100,520.00 secured by a first charge on your main residential property, payable over 25 years initially on a discounted variable rate of 5.99% 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 £501.76 and 264 monthly payments of £690.24. The total amount payable would be £301,414.22 made up of the loan amount plus interest (£200,894.22) including £495 fee, deeds sealing and dispatch fees of £200, valuation fee £290 and money transfer fee £25.

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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