Step On Mortgage - 3 Year Fixed Rate FR263

With this fixed rate mortgage, you can sit back and relax.

This fixed rate mortgage could be for you if you are buying your first home, moving house or simply want to move your mortgage to us from another lender.

Our three year fixed rate mortgage allows you to plan your finances safe in the knowledge that your repayments will not be affected by changes in the interest rate until 30 June 2021. If you pay off your mortgage during the fixed rate period, you will pay an early repayment charge of 3% of the outstanding balance.
This mortgage is only available if the property you are purchasing is in our local operating area, (DL, TS, DH, YO, HG, SR).

So if you think this fixed rate mortgage may be for you, take a look at the key features below.


Interest Rate
4.14% fixed until 30.06.2021
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
5.2% APRC
Fees
£ Product Fee
£120 Account Fee
Key features

No Product fee

£120 Account fee

One lump-sum repayment of 10% allowed within the fixed rate period.

Up to 95% LTV (including any fees added)

Capital and interest repayment basis only

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.

Incentives

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.

Insurance

No compulsary insurances

Eligibility

Only available for applicants where the property purchased is in our local area (DL, TS, DH, YO, HG, SR).

Higher lending charge
Not applicable
Capital repayments
One lump sum payment of up to 10% of the initial mortgage loan allowed during the fixed rate period.
Early repayment charge
3% of the outstanding balance if redeemed prior to the fixed rate period.
Portable
Yes
Notes

Capital and interest repayment basis only.

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
£93,000
Duration of the contract
16 Years
The duration of the fixed period
3 Years 5 Months
The initial fixed rate
4.14%
The amount of the fixed rate instalments
£664.04
The number of the fixed instalments
41
The frequency of the fixed instalments
Monthly
Our Standard Variable Rate (SVR)
5.70%
The duration of the SVR period
12 Years 7 Months
The frequency of the SVR instalments
Monthly
The amount of SVR instalments
£725.42
The total amount payable
£136,864.06
The total amount of interest payable
£43,643.58
Mortgage exit fee
£100
Product fee
£
Account fee
£120
The overall cost for comparison
5.2% 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 fluctuations 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 you 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 01/02/2018.

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

Repayment calculator

£0.00