5.49% variable, which includes a 2.61% discount from our Standard Variable Rate for 5 years.

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

7.2% 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:

5% in the 1^st year

4% in the 2^nd year

3% in the 3^rd year

2% in the 4^th & 5^th year

Interest-Only

50%

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 2.50% during the discount period.

Eligibility

At the date of the product switch, the balance must be at least £10,000 and a term of at least 2 years must remain.

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

A mortgage of £47,998.00, payable over 15 years, on an interest-only repayment basis, with an initial payable rate of 5.49%, which includes a 2.61% discount from our Standard Variable Rate (SVR) for 5 years and then on our SVR, currently 8.10%, for the remaining 10 years. The initial term would require 60 monthly payments of £219.59, followed by 120 monthly payments of £323.99.

The total amount payable would be £100,152.20, made up of the loan amount (£47,998.00), plus interest (£52,054.20) and a Mortgage Exit Fee (£100).

The overall cost for comparison is 7.2% APRC.