Cashback 5 Year Shared Ownership Fixed Rate Mortgage
RATES CORRECT AS AT 21 June 2024
Initial rate
5.09%
Fixed up to and inc. 30/09/2029
Then changing to the Society's SVR, (currently)
8.24%
For the remaining term of the mortgage
The overall cost for comparison is
7.1%
APRC
Maximum loan to value
75%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Representative Example
A mortgage of £100,000.00 payable over 25 years initially on a fixed rate for 5 years at 5.09% and then on our current Standard Variable Rate of 8.24% (variable) for the remaining 20 years would require 60 monthly payments of £589.25 and 240 monthly payments of £754.43.
The total amount payable would be £216,453.20 made up of the loan amount plus interest of £116,418.20 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.
The overall cost for comparison is 7.1% APRC representative.
This representative example assumes a mortgage completion date on the 1st day of a calendar month.
The above representative example is for illustration purposes only and may vary depending on your personal circumstances.
Additional features
- Interest calculated daily.
- Maximum loan £700,000.
- Not Portable.
- Not Available in Scotland.
- Available between 25% - 75% LTV.
- Minimum loan £50,000.
- £500 Cashback upon completion
- Free standard valuation up to £999.
- This product is not available to interest only applications.
- 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
- Tapered Early Repayment Charges apply up to and including 30 Sep 2029.
- 90% borrower share available.
Fees
Application Fee (payable on application - non-refundable)
£0
Product Fee (payable on application - this is refundable should the mortgage not complete)
£0
Mortgage Exit Fee
£199