- Support for Coronavirus - how we're helping our customers See more
Owner Occupier mortgages for additional borrowingSee all of our current Owner Occupier mortgage products available for additional borrowing.
The mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
All of these Owner Occupier mortgage products have limited funds available and may be withdrawn at any time. Our mortgages are available to applicants aged 18 and over for properties in England or Wales.
This information should be read in conjunction with the following documents: 'Additional Information about our Mortgages' and 'Getting a Mortgage: what you need to know' guide, which provide important information about our mortgage services.
Key things to bear in mind
- Purpose - Product switch and further advance
- LTV - Maximum 60%.
- Application Fee - £125 for further advance. £0 for product switches.
- Valuation Fees - £0
- Product Fee - £0
- Cashback - £0
- Early Repayment Charges - 3% until 30/09/2022, 2% until 30/09/2023 1% until 30/09/2024
- Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
- Minimum loan - £2,000 for further advance. No minimum for product switches
- Cost for comparison - 4.1% APRC
- Additional criteria - For further advances the mortgage must complete by 01/11/2021
A further advance of £36,135.00 payable over 10 years initially on a fixed rate for 3 years at 3.09% and then on our variable Managed Mortgage Rate, currently 4.39% for the remaining 7 years, would require 39 monthly payments of £93.05 and 81 monthly payments of £132.17, plus one initial interest payment of £92.01.
The total amount payable would be £50,786.73 made up of the loan amount plus interest of £14,426.73, an Application Fee of £125 which includes the Valuation Fee, and Legal Fees of £100.The overall cost for comparison is 4.1% APRC representative.