6.69% variable, which includes a 1.41% discount from our Standard Variable Rate for 2 years.

Our Standard Variable Rate* for the remainder of the term, currently 8.10%.

8.1% APRC

Fees

Mortgage exit fee - £100 (payable when the mortgage is fully repaid)

A full or partial capital repayment, which exceeds 10% of the capital balance amount in any one year will attract an early repayment charge of 2% in the first 2 years.

Capital & Interest or Interest-Only

75%

Portability

This product is portable and can be transferred from the existing property to a new property.

Interest rate floor

The interest rate for this mortgage has a ‘floor’, which means that it will never fall below 3.00% during the discount period.

Eligibility

At the date of the product switch, the balance must be at least £25,000 and a term of at least 2 years must remain.

Not available for HMO properties.

Maximum portfolio 4 properties.

This information is to help you understand the typical cost of this mortgage and is not representative of your personal circumstances.

A mortgage of £99,553.00, payable over 21 years, on an interest-only repayment basis, with an initial payable rate of 6.69%, which includes a 1.41% discount from our Standard Variable Rate (SVR) for 2 years and then on our SVR, currently 8.10%, for the remaining 19 years. The initial term would require 24 monthly payments of £555.01, followed by 228 monthly payments of £671.98.

The total amount payable would be £266,184.68, made up of the loan amount (£99,553.00), plus interest (£166,531.68), and a Mortgage Exit Fee (£100).

The overall cost for comparison is 8.1% APRC.