Additional Mortgage Information

Providing you with attractive mortgages is an important part of our service promise. These are the features on all our mortgages:

• Daily interest
• Early repayment charges
• Flexible features: overpayments, underpayments and payment holidays

Daily Interest

Interest is calculated daily on the entire loan and is charged to you at the end of each day. This means the interest is added to the loan on which interest will be paid the following day. In other words it is compounded daily.

As interest is charged on the loan on a daily basis, the earlier in the month payments are made, the less interest there will be charged to the account.

Early Repayment Charges

With some - but not all - of our mortgage products, if you repay (redeem) your loan in full, repay in excess of any overpayment limits, or transfer (in full or part) to a different product or to our Standard Variable Rate, we will require payment of an early repayment charge.

The basis of the early repayment charge can vary depending on the product chosen, and will be based on the amount repaid/transferred. Please refer to the specific product for details of how the early repayment charge is calculated.

For repayment in excess of any overpayment limit the early repayment charge will be calculated on the amount paid over the limit.

Some of our products are portable so that if you move house within the fixed, capped, discounted or tracker rate period and keep the same amount of loan with us on the same product we will pay back the early repayment charges you incur for repaying your loan early. This refund is subject to conditions as will be explained in any mortgage offer issued to you.

The early repayment charge that you will have to pay depends upon the product you choose and the size of your mortgage. Details of the mortgages that have early repayment charges and the level of the charge is detailed in our mortgage range section.

Flexible features

The following features are normally available with our mortgage products, however there may be limits on the amount of overpayments. See mortgage range section for detailed descriptions of each particular mortgage. These will also highlight any product fees or early repayment charges which may be payable.

Overpayments

Depending on the product chosen, you could significantly reduce the total amount of interest you pay and potentially knock years off your loan by paying more than your usual monthly payment, or by making occasional lump sum payments on top of your usual monthly payment.

Underpayments and payment holidays

If you have previously overpaid, you can underpay or even take a break from making your monthly payments up to the amount you have previously overpaid. Underpayments or payment holidays have to be agreed with us in advance and will increase the amount of interest we charge you. Interest continues to be charged during payment holidays.

Barnsley Building Society and the Barnsley are trading names of Yorkshire Building Society. Principal office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ.
Yorkshire Building Society is a member of the Building Societies Association and is authorised and regulated by the Financial Services Authority. It is entered in the FSA register and its FSA registration number is 106085.

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