Homes for Ukraine - important information can be found here.
Monthly savings statements - From May we will be sending future monthly statements of electronic transactions on your savings account by email. More details on how to view your statement and the new process can be found here.
Following the Bank of England’s decision to raise the Bank Rate by 0.25% to 1.00% on 5 May 2022, Windfall Bond and Tracker Savings Bond rates will increase by 0.25% from 1 June 2022. We are reviewing our other variable savings rates and will notify customers of any interest rate increase on their account. Tracker mortgages will change on 25 June 2022 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage. (Notice updated 06/05/2022)
3.14% 10 year discounted rate by 1.65% Retirement Lifestyle Booster
The mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Key things to bear in mind
- Purpose - Remortgage
- Discount - 1.65% applied to our Managed Mortgage Rate for 10 years
- Minimum rate - 3.14%
- Loan to Value - Maximum 25%
- Application fee - £175 + Valuation Fee
- Valuation fees - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount.
- ~Product fee - £999 for loans up to £500,000. For loans above £500,000 0.3% of the loan amount.
- Additional benefits:
- ^Cashback - £500 on completion for remortgage applications.
- Early Repayment Charges - 3% in the first year, 2% in the second year, 1% in the third year.
- Maximum loan - No maximum.
- Minimum loan - £45,000.
- Additional criteria - Minimum property value is £240,000 if property owned outright or £180,000 if repaying existing mortgage.
A mortgage of £241,000.00, drawn down in monthly instalments of £2,008.33 over 10 years, on a discounted variable rate for 10 years currently at 3.14% would require 119 monthly payments of £302.18 plus one initial interest payment of £3.64
The total amount payable would be £278,948.06 made up of the loan amount plus interest of £35,963.06, an Application Fee of £886 which includes the Valuation Fee, a Product Fee of £999 and a Mortgage Exit Fee of £100.The overall cost for comparison is 3.4% APRC representative.
More downloads & what you'll need to apply
More mortgage downloads
- Getting a mortgage: what you need to know
- Retirement Lifestyle Booster brochure
- RLB additional information
If you're renting your current home you'll need...
• 12 months statements showing rent payments.
If you already have a mortgage you'll need…
• Proof of mortgage payments - we carry out an electronic credit check on all applicants which usually confirms this. However if this fails, we will need proof. This can be provided from 12 months bank statements, the latest mortgage statements, or a combination. To speed up our underwriting, you can provide these on submission.
Proof of income
• 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.
• Evidence of deposit in an account held by the applicant(s)
• For gifted deposits, we require evidence of the funds in a UK account and the giftors details (name, date of birth, relationship to applicants).
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).
Call our expert UK team
Savings - 03330 140141
Mortgages - 03330 140140
Savings - 03330 140144
Mortgages - 03330 140146