| Summary |
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Re-Mortgage: Fixed Rate until 31st May 2011
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Product Code: K287
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Offer Rate: 5.99%
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Current Variable Rate: 7.19%
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Overall Cost For Comparison: 7.2% APR variable
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Loan To Value: Up to 85%
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Fixed Rate Mortgage until 31st May 2011
| Permitted Borrowing Allowed |
Where borrowing is up to 85% of the property's value |
| Mortgage |
Fixed Rate until 31st May 2011 |
| Product Code |
K287 |
| Offer Rate |
5.99% |
| Available Offer |
Fixed rate of 5.99% until 31st May 2011 moving to Society's
standard variable rate for the remainder of the mortgage |
| Current variable rate applicable after offer |
7.19% |
| The overall cost for comparison is |
7.2% APR variable |
| Loan to Value applicable to product |
Up to 85% |
Additional Features
| Valuation Fee |
Applicable dependent upon property Scale in
Charges and Fees section |
| Administration Fee |
£750 |
| Free Legals |
Free legal fees if using the Society's nominated legal
services (for standard re-mortgage transactions) |
| Portable |
Yes |
| Available for New Purchase Purposes |
No |
| Available for Re-mortgage Purposes |
Yes |
| Capital Repayments During Period of Mortgage |
Yes |
Additional information applicable to discounted mortgage K287
- Life insurance is recommended by the Society and can be arranged
with the applicant/s if required
- Household insurance is required and can be arranged by the
Society through our Home Insurance policy
- A private insurance fee will be charged if buildings insurance
is not arranged by the Society. The fee applicable is £25
- Fixed rate period will end on 31st May 2011
- The administration and valuation fees can be added to the loan
upon completion of the mortgage. It will have interest charged upon
it and will be paid off within the monthly mortgage payment over the
term of the mortgage.
- Free standard legal costs for re-mortgages when using the
Society's nominated solicitors.
- The loan may be reduced by up to 10% before 31st May 2011
without incurring any early repayment charge.
- Early repayment Charge: If the account is redeemed before 31 May
2011, a charge equivalent to 6 months interest based on the capital
balance outstanding will be applied. (Capital balance outstanding in
the year when the mortgage commenced is the amount of the original
advance less any part redemptions made during the year. In
subsequent years it is the amount owing at the beginning of the year
on 1st January, less any part redemptions made during the year.)
- In the case of part redemptions made before 31 August 2010, they
will incur a charge of 6 months interest based on the sum repaid
where the debt is reduced below 90%.
- Minimum advance applicable for home purchase is £25,000
- Capital raising is available.
- Loans over 75% require repayments to be made by Direct Debit
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