3 year discounted variable mortgage D306

With this discounted mortgage you benefit from a reduction in our current standard variable interest rate until 30.06.2020  Until then your payments may increase or decrease as our standard variable rate changes, but you will not pay the full standard variable interest rate.  If you pay off your mortgage during this time, you will pay an early repayment charge of 1% of the outstanding balance.

The Society will make a one-off contribution towards the cost of the basic valuation. The maximum contribution will be £300.00 and the actual amount depends on the value of the property. And because you never know when you might want to, you can make one lump sum repayment of 10% off your mortgage during the discount period.

If you think this discounted variable rate mortgage could be for you, carry on reading for more information.

Remembering Rebecca

On completion, the sum of £255 will be paid to the charity Remembering Rebecca. Remembering Rebecca is a local charity in memory of Rebecca Sands who passed away, aged 21 months, in August 2010 from the rare brain condition Lissencephaly which means smooth brain.

The charity Remember Rebecca aims to raise awareness of Lissencephaly and offer financial assistance and support for children, from birth to 16 years, with Lissencephaly and other neurological conditions.

The costs of specialist equipment is very expensive, a small hand held toy could be £100 and specialist bikes are over £1000 which to some families is simply unaffordable. As a charity we aim to help these families through equipment grants and fundraising events.

For further details of future events please follow us on social media.


Interest Rate
2.25% until 30.06.2020
For the remainder of the term of the mortgage, changing to our SVR currently
5.70% and remaining on standard variable rate terms for the rest of the mortgage
Overall cost for comparison
4.7% APRC
Fees
£00 Product Fee
£00 Account Fee
Key features

Free basic valuation on properties valued up to £300,000.
No Product Fee
No Account Fee
Capital and Interest repayment only basis.
One lump sum repayment of up to 10% within the discounted period.
Up to 80% LTV.

Incentives

Free basic valuation on properties valued up to £300,000.

On completion, the sum of £255 will be paid to the charity Remembering Rebecca.

Insurance

No compulsory insurances.

Eligibility

Home mover/ remortgage (moving mortgage from another lender).
Mortgaged property is your permanent home.

Only available in our local postcode area (DL, DH, SR, TS, YO, HG).

Higher lending charge
Not applicable.
Capital repayments
One lump-sum repayment of 10% allowed within the discounted period.
Early repayment charge
1% of the outstanding balance if redeemed before 30.04.2020.
Portable
Yes
Notes

Darlington Building Society are required to provide you with Standard Information which is a representative of the current mortgage, which is set out below:


Requirement
Society Example
The total amount of the credit
£104,500
Duration of the contract
22 Years
The duration of the variable period
3 Years 2 Months
The initial variable rate
2.25%
The amount of the variable rate instalments
£502.22
The number of the variable instalments
38
The frequency of the variable instalments
Monthly
Our Standard Variable Rate (SVR)
5.70%
The duration of the SVR period
18 Years 10 Months
The frequency of the SVR instalments
Monthly
The amount of SVR instalments
£668.06
The total amount payable
£170,165.92
The total amount of interest payable
£65,566.12
Mortgage exit fee
£100
Product fee
£00
Account fee
£00
The overall cost for comparison
4.7% APRC
Representative example summary

If all or part of your income is in a currency other than Pound Sterling (£), you should be aware about the risks of fluctuation in currency exchange rates. If the value of the relevant currency moves against you by at least 20% then that may make it more difficult for your to afford your mortgage payments.

The Representative Example is based on mortgages sold between 31/12/2015 - 31/12/2016 and if you were to take your mortgage product as at 01/05/2017.

All above information is for illustration purposes only and may vary depending on personal circumstances.

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Need to discuss your options?

Sometimes it's easier to discuss things face-to-face. All our branches have a mortage advisor ready and waiting to talk. If you’d like to discuss your options or you would like some advice, call in at your local branch.

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