Important information about our 5 Year discount mortgage

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Available to:

Applicants for the purchase or remortgage of their main residential property only.
Applicants to be either employed or self-employed.
Applicants must be UK residents.
Product Availability: This product may be withdrawn with little or no notice.
To ensure funds are reserved it is essential that a loan application form is fully completed and submitted and that any application fee is paid.

1.25% discount off the Society's Standard Variable Rate for 5 years.
Interest is calculated on a daily basis.
The interest rate payable will not fall below 3% at any time during the life of the mortgage.
The Society reserves the right to withdraw the discounted rates:
(a) you cease to occupy the property as your main residence.
(b) the account falls into arrears.
The Society's Standard Variable Rate, applicable at that time, would then apply.

Minimum loan £30,000.
Maximum loan £500,000.
Maximum loan to value 85%.
Additional borrowing:
If you qualify, additional borrowing is available under the Society's Speedtrack Further Loan scheme (see separate leaflet for terms and conditions).

Application fee of £495 is payable - £100 payable on application (non refundable), the balance being payable on completion or deducted from the advance.
Valuation fee payable up front by the applicant.
Early Repayment Charge: If the mortgage is repaid either in whole or in part, or is transferred to an alternative product, within the first 2 years, then a charge equivalent to 5% of the amount being repaid or transferred will become due.
A sealing fee/administration fee of £125 is payable on redemption of your mortgage.
Property Insurance: Where building insurance is not taken out with the Society, an administration fee of £25 is payable. Prior to completion, the Society will need to be satisfied that the insurance cover meets its minimum requirements. Full details of minimum requirements are available on request.

This product is portable. If you move home, the mortgage product may be transferred to your new property (subject to terms and conditions).