For loans up to 75% of property value
|Product name||Private Exclusive - Capital and Interest - 5 year Fixed|
|Initial rate expires on|
31st July 2023
|Rate thereafter||Standard Variable Rate, currently |
|Overall cost for comparison||4.0% APRC|
|Option to add arrangement fees to mortgage||Yes the arrangement fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type|
|Legal and Valuation Fees|
The valuation report is used to calculate how much we’ll lend you. This is separate from any valuation or survey of the property you might want to instruct for your own purposes.
There are other homebuyers, home report or structural survey options available if you want to commission these.
Typically you will not have to pay a valuation fee if: you are an existing mortgage customer who wishes to re-mortgage their current house with us. you are a new mortgage customer who wants to switch the mortgage for their current home to us.
*Please note that if you are changing the terms of the original mortgage e.g. borrowing an additional amount, changing the duration of the mortgage or changing repayment terms, a valuation will be required and a fee will be payable where applicable.
You’ll normally instruct a solicitor to act on your behalf in connection with your transaction. You may be required to pay legal fees and costs as part of their work on your behalf. These fees/costs are normally charged by the solicitor directly to you, unless we tell you that we’ll contribute to the legal costs as part of your product deal.
Typically you will not need to pay legal fees if: you are an existing mortgage customer who wishes to re-mortgage with us. you are a new mortgage customer who wants to switch the mortgage for their current home to us and use our legal panel.
Available for purchase and remortgage, new applications and product transfer. Applicants must be aged 18 or over. All loans are subject to status. Security will be required
|Maximum loan amount||The maximum loan size is £1,000,000|
|Maximum loan to value||75%|
|Minimum loan amount||£200,000|
|Early repayment charge||5% in years one and two|
4% in year three
3% in year four
2% in year five
Remortgage: Legal fees and valuation paid for remortgages only#
This product includes £500 cash back (subject to min £75k new borrowing and other eligibility criteria).
At the end of the discounted/fixed period you can make extra payments or repay your whole mortgage without penalty.
# The switching package is only available to applicants moving their mortgage from another lender. If the property is unencumbered, a free valuation is available. Free valuations are available on properties worth £2m, or less. Optima Legal Services will charge a funds transfer fee of £42 to applicants who use the switching package. When using products available for mortgages over £1m which benefit from the switching package incentive, the switching package is enhanced to allow one free valuation for properties worth £3m or less (standard free legals remain limited to properties worth £2m or less).