Application Form
1. This is a fixed-rate loan so your monthly payments will not go up or down during the fixed-rate period. The fixed rate of interest is 4.34% until 31.03.2013. Your monthly payments may change if you do not make a payment on time, if your insurance premiums change, or if you take out another loan that we add to your mortgage.
2. This is only available while the mortgaged property is your permanent home.
3. When our standard variable rate goes up or down, you will continue to pay interest at the fixed rate during the fixed-rate period.
4. If you require additional borrowing in the future, in the form of a further loan, this will be considered at product rates which are available at that time.
5. At the end of the fixed-rate period your interest rate will be our standard variable interest rate at that time.
6. During the fixed-rate period you can only make one lump-sum repayment of up to 10% of the amount you originally borrowed at the fixed rate. If you make any further lump-sum repayments during the fixed rate period we will charge you an early-repayment charge of 3% of the outstanding balance at the time of the transfer.
7. If you repay the loan in full before 31.03.2013, we will charge you an early-repayment charge of 3% of the outstanding balance at the time of redemption.
8. If you transfer to any of our other mortgage products before 31.03.2013, we will charge you an early-repayment charge of 3% of the outstanding balance at the time of the transfer.
9. If you fall behind with your monthly payments during the fixed-rate period, we may transfer your loan to our standard variable rate. We will still charge you 3% of the outstanding balance if you pay the loan in full before 31.03.2013.
10. If you move house before 31.03.2013 and you continue to meet the terms and conditions of this mortgage, you may transfer the balance and benefits of this mortgage to the new property.
11. The minimum loan is £1,000 and the maximum loan is £300,000.
12. If you are using this loan to buy your property, the loan must not be more than 80% of the valuation of the property.
13. If the loan is being transferred from another lender, the loan must not be more than 80% of the valuation of the property.
14. By considering this application we are not obliged to make an offer of a loan.
15. You will have to pay a product fee of 1% of the loan. We will not refund this fee and will add it to the loan when it is completed.
16. You will have to pay a completion fee of £75 (includes Electronic Funds Transfer Fee). We will not refund this fee and will add it to the loan when it is completed.
17. If we or you cancel this application, we are not obliged to transfer the benefits of this mortgage to any other application.
Your fixed rate mortgage is governed by our rules, the mortgage conditions (2008) and these special conditions. If there is a disagreement involving the mortgage conditions and these special conditions, these special conditions will apply.
We usually provide mortgages only to people who will live in the property they are buying with the mortgage. Our mortgages are available to anyone aged 18 or over who meet our conditions. All loans depend on your circumstances and a satisfactory valuation of the property you are buying. Your property will be security for the loan and you may need to provide extra security, for example, by paying a higher lending charge. You can get a written illustration from any of our branches or from our head office.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Notes: This mortgage is available on an interest only or repayment basis. APR is calculated on assumption that at the end of the fixed rate period the rate payable will be the Society’s standard variable rate (5.95%) for the remainder of the mortgage term. APR’s are variable. In addition, on completion, you will be required to pay Land Registry Fees which, in this example, would be £70 on a purchase or £40 on a remortgage. You will also be required to pay your Solicitors charges for acting for you in the purchase of the property.
mortgages - terms and conditions
Terms and Conditions1. This is a fixed-rate loan so your monthly payments will not go up or down during the fixed-rate period. The fixed rate of interest is 4.34% until 31.03.2013. Your monthly payments may change if you do not make a payment on time, if your insurance premiums change, or if you take out another loan that we add to your mortgage.
2. This is only available while the mortgaged property is your permanent home.
3. When our standard variable rate goes up or down, you will continue to pay interest at the fixed rate during the fixed-rate period.
4. If you require additional borrowing in the future, in the form of a further loan, this will be considered at product rates which are available at that time.
5. At the end of the fixed-rate period your interest rate will be our standard variable interest rate at that time.
6. During the fixed-rate period you can only make one lump-sum repayment of up to 10% of the amount you originally borrowed at the fixed rate. If you make any further lump-sum repayments during the fixed rate period we will charge you an early-repayment charge of 3% of the outstanding balance at the time of the transfer.
7. If you repay the loan in full before 31.03.2013, we will charge you an early-repayment charge of 3% of the outstanding balance at the time of redemption.
8. If you transfer to any of our other mortgage products before 31.03.2013, we will charge you an early-repayment charge of 3% of the outstanding balance at the time of the transfer.
9. If you fall behind with your monthly payments during the fixed-rate period, we may transfer your loan to our standard variable rate. We will still charge you 3% of the outstanding balance if you pay the loan in full before 31.03.2013.
10. If you move house before 31.03.2013 and you continue to meet the terms and conditions of this mortgage, you may transfer the balance and benefits of this mortgage to the new property.
11. The minimum loan is £1,000 and the maximum loan is £300,000.
12. If you are using this loan to buy your property, the loan must not be more than 80% of the valuation of the property.
13. If the loan is being transferred from another lender, the loan must not be more than 80% of the valuation of the property.
14. By considering this application we are not obliged to make an offer of a loan.
15. You will have to pay a product fee of 1% of the loan. We will not refund this fee and will add it to the loan when it is completed.
16. You will have to pay a completion fee of £75 (includes Electronic Funds Transfer Fee). We will not refund this fee and will add it to the loan when it is completed.
17. If we or you cancel this application, we are not obliged to transfer the benefits of this mortgage to any other application.
Your fixed rate mortgage is governed by our rules, the mortgage conditions (2008) and these special conditions. If there is a disagreement involving the mortgage conditions and these special conditions, these special conditions will apply.
We usually provide mortgages only to people who will live in the property they are buying with the mortgage. Our mortgages are available to anyone aged 18 or over who meet our conditions. All loans depend on your circumstances and a satisfactory valuation of the property you are buying. Your property will be security for the loan and you may need to provide extra security, for example, by paying a higher lending charge. You can get a written illustration from any of our branches or from our head office.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Notes: This mortgage is available on an interest only or repayment basis. APR is calculated on assumption that at the end of the fixed rate period the rate payable will be the Society’s standard variable rate (5.95%) for the remainder of the mortgage term. APR’s are variable. In addition, on completion, you will be required to pay Land Registry Fees which, in this example, would be £70 on a purchase or £40 on a remortgage. You will also be required to pay your Solicitors charges for acting for you in the purchase of the property.
