- Our Autumn newsletter is now available. You can download it here
-
Online Service update. Due to planned essential maintenance our Online Service will be unavailable between Thursday 12 December at 10:00pm until Friday 13 December at 2:00am. It will also be unavailable on Sunday 15 December between 8:00am and 6:00pm. We apologise for any inconvenience this may cause.
6.19% (2.00% discounted rate from follow on rate) for 3 years (XD0219)
Key things to bear in mind
- Purpose - Further Advance and Product Switch applications
- Discount - 2.00% applied to our Managed Mortgage Rate for 3 years
- Minimum Rate - 3.94%
- Loan to Value - 60%
- Application fee - £125 for Further Advance. £0 for Product Switches
- Legal fees - £100 minimum for Further Advance applications
- Valuation Fees - £0
- ~Product Fee - £0 for Further Advance and Product Switch
- Early Repayment Charges - 3% in the first year, 2% in the second year, 1% in the third year
- Maximum loan - No maximum
- Minimum Loan - £2,000 for Further Advance. No minimum for product switches
- Cost for comparison - 7.8% APRC.
Representative example
A mortgage of £110,897.00 payable over 10 years initially on a discounted variable rate for 3 years at 2.00% below our variable Managed Mortgage Rate and then on our variable Managed Mortgage Rate, currently 8.19% would require 35 monthly payments of £572.04 and 85 monthly payments of £755.98 plus one initial interest payment of £584.48.
The total amount payable would be £195,861.18 made up of the loan amount plus interest of £84,864.18 and a Mortgage Exit Fee of £100.
The overall cost for comparison is 7.8% APRC representative.
More downloads & what you'll need to apply
Identification
Only applicable for Further Advance applications - We carry out an electronic ID check on all applicants. If this fails you will need to provide us with ID documents.
Bank statements
Only applicable for Further Advance applications - Three full months most recent consecutive bank statements for all current accounts, to evidence all income and outgoings. Bank statements must show the applicants name, account number, sort code and bank logo.
Proof of income
Only applicable for Further Advance applications -
If you're employed in a company you'll need:
- Three months' most recent payslips
- Most recent P60.
If you have property or investment income you'll need:
- Two years most recent SA302s.
If you're self employed you'll need:
- Two years most recent accounts or two years most recent SA302s / Tax Calculations (100% Completed) or Family Building Society Accountant's Certificate
- Accountant's details on the application form.
If you are already retired or if the term of your mortgage term goes beyond retirement or age 70 you'll need:
- Most recent Pension Statement or letter from Department for Work and Pensions
- Most recent annual Pension Statement
- Most recent P60.
Other items
Only applicable for Further Advance applications -
If you already let a property you'll need:
- Evidence of rent being paid in and mortgage being paid out (bank statements requested above may already cover this).
Case study - The Family Mortgage - helping first time buyers with small deposits
Choosing the Family Mortgage to buy their first home together
Over 125 years of helping people move in
For a long time we've been trusted to lend to a wide variety of people with a more small scale, personal approach as shown in our awards.
Contact our expert UK team
Existing customers
Savings - 03330 140144
savings.service@familybsoc.co.uk
Mortgages - 03330 140146
mortgage.service@familybsoc.co.uk
...or ask the way that suits you.
Request a call back
We can call you back at a time that suits you.
Visit us in branch
Ashley Square, Epsom, Surrey, KT18 5DD.
View our FAQs
Your questions might be answered here.