3 Year Discount Mortgage D462

This discounted variable rate mortgage could be for you if you are buying your first home, moving house or simply moving your mortgage from another lender in England, Wales and Scotland.


With this discounted mortgage you benefit from a reduction in our current standard variable interest rate until 31 October 2023. 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 the following tariffs:

3% of the outstanding balance

Before 31st October 2021

2% of the outstanding balance

Before 31st October 2022

1% of the outstanding balance

Before 31st October 2023


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.


Interest Rate
2.59% until 31.10.2023
For the remainder of the term of the mortgage, changing to our SVR currently
5.3% and remaining on standard variable rate terms for the rest of the mortgage
Overall cost for comparison
4.6% APRC
Fees
0.50% Product fee
£120 Account Fee
Key features

0.50% Product Fee.

£120 Account Fee.

Interest Only or Capital and Interest repayment options available.

One lump sum repayment of up to 10% within the discounted period.

Up to 80% LTV (up to 70% for Interest Only) (excluding any fees).

Incentives
Insurance

No compulsory insurances.

Eligibility

The mortgaged property must be your permanent home.

Higher lending charge
Not applicable.
Capital repayments
One lump-sum repayment of 10% allowed within the discounted period.
Early repayment charge
3% of the outstanding balance before 31st October 2021 / 2% of the outstanding balance before 31st October 2022 / 1% of the outstanding balance before 31st October 2023
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
£126,900
Duration of the contract
25 Years
The duration of the variable period
3 Years and 3 Months
The initial variable rate
2.59%
The amount of the variable rate instalments
£575.61
The number of the variable instalments
39
The frequency of the variable instalments
Monthly
Our Standard Variable Rate (SVR)
5.3%
The duration of the SVR period
21 Years and 9 Months
The frequency of the SVR instalments
Monthly
The amount of SVR instalments
£741.69
The total amount payable
£216,119.88
The total amount of interest payable
£89,009.26
Mortgage exit fee
£90
Product fee
0.50%
Account fee
£120
The overall cost for comparison
4.6% 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 01/01/2018 – 31/12/2018 and if you were to take your mortgage product as at 01/08/2020.

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

Want to speak to a mortgage advisor?

Sometimes it's easier to discuss things face-to-face. Contact our team of mortgage advisors today, our advice is free and we will discuss your options with you.

Call us on:

01325 741035


Or email us at
mortgagedirect@darlington.co.uk

Our staff are available between:

9am and 5pm Monday to Friday

Your mortgage is secured on your home. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.