Fixed Rate Mortgage until 31st May 2011

Additional Features

Additional information applicable to discounted mortgage K288

• 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 the 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.
• 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 May 2011, 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
• Higher Lending Charges are applicable where the loan is 85% or more of the property's value. The fee will be added to the loan and will be subject to the prevailing rate of interest. This will then be paid within the monthly mortgage payment over the term of the mortgage.