7.85% variable - our Standard Variable Rate for the term of the mortgage.

8.3% APRC

Fees

Arrangement fee – 1.50% of the loan amount, minimum £250 (payable on completion, can be added to the loan)

A property re-inspection fee £65

Incentives

None.

No early repayment charges apply.

Self-Build Further Advance

Capital & Interest or Interest-Only

Interest-Only can be chosen to apply during the build, then on completion, the mortgage will typically revert to Capital and Interest basis for the remainder of the term.

80% - Capital & Interest

60% - Interest-Only

including the current outstanding mortgage.

Minimum £5,000 – Maximum £500,000

The total loan including the existing mortgage may not exceed £1,500,000.

Portability

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

Adding fees

If you add the arrangement fee to the loan, then interest will be charged on it resulting in a greater amount payable over the term of the mortgage.

Interest Only

The mortgage is available on an interest-only basis providing the total loan-to-value, including the current mortgage, does not exceed 60%. A suitable strategy for repayment must be in place.

Eligibility

Property must be in England and Wales with a value of £140,000 or more.

Not permitted within 6 months of completion of the original mortgage.

Mortgages are subject to underwriting.

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

A mortgage of £92,454.00 payable over 20 years, on an interest-only basis, on our Standard Variable Rate, currently 7.85%, for the term of the mortgage. The initial term would require 240 monthly payments of £604.80.

The total amount payable would be £239,057.81, made up of the loan amount (£92,454.00), plus interest (£145,152.00), Arrangement Fee (£1,386.81), and a Reinspection Fee (£65).

The overall cost for comparison is 8.3% APRC.