Important information about our 3 Year Fixed Rate Mortgage

Criteria:

• Existing borrowers for product transfer purposes, re-arrangement, Speedtrack and Further Advance applications.
• Borrowers to be either employed or self-employed.
• Borrowers must be UK residents.
• Houses within England or Wales are an accepted type of security.
• Unacceptable property types are flats, maisonettes and houses converted into flats.
• Product availability:  This product may be withdrawn with little or no notice.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 administration fee is paid.

Interest Rate:

• 3.99% fixed until 31 August 2015 
• Completion must take place on or before 31 August 2012.
• As interest is calculated on a daily basis, any overpayments you make will immediately reduce the amount you owe and also the amount of interest you pay.
• At the end of the fixed rate period, 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 fixed rate if you cease to occupy the property as your main residence.  The Society's standard variable rate, applicable at that time, would then apply.

Loan:

• Minimum loan £20,000.
• Maximum loan £500,000.
• Maximum loan to value 90% (including any fees added to the loan).
• Maximum loan to value for capital raising 75% (including any fees added to the loan).

Fees/Charges:

• No administration fee is payable.  An 'Account Review' offering the following facilities is available at no extra cost (when taken at the time of the transfer), subject to terms and conditions and the Society's Lending Policy:
  -  Change of mortgage term
  -  Change of payment type
• Valuation fee (if applicable) payable up front by the applicant.  Please note that this is not a survey of the property - please refer to the 'Valuation Fee' section in our Homebuyer's Guide for further details.
• Early Repayment Charge:  If the mortgage is repaid either in whole or in part, or is transferred to an alternative product, before 31 August 2015, then a charge equivalent to 3% of the amount being repaid or transferred will become due.
• During the product period, no Early Repayment Charge will be incurred in respect of capital repayments of up to 10% of the original transfer amount, made in any 12 month period, from the date of transfer.
• A sealing fee/administration fee is payable on redemption, as stated on your original mortgage offer, and will be a maximum of £175.
• Property Insurance:  If you currently have buildings insurance with the Society and do not wish to retain it, an administration fee of £25 is payable.

Additional borrowing:

• If you qualify, additional borrowing is available under the Society's Speedtrack Further Loan scheme.
  
  An up front application fee of £100, together with valuation fee (per scale) is payable in respect of additional borrowing.
  
  Where the new loan to value exceeds 75% a Higher Lending Charge (HLC) is payable (per scale).
  
  Further details are available on request.

Portability:

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