5 Year Fixed Rate Mortgage FR368

This fixed 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.

It could also be available to you for your newly built home using the Government's Help to Buy Equity Loan Scheme.


Our five 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 November 2025. If you pay off your mortgage during this time, you will pay an early repayment charge of the following tariffs:

5% of the outstanding balance

Before 30th November 2022

4% of the outstanding balance

Before 30th November 2023

3% of the outstanding balance

Before 30th November 2024

2% of the outstanding balance

Before 30th November 2025


You can make one lump sum repayment of 10% off your mortgage during the fixed rate period.

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


Interest Rate
3.49% fixed until 26.11.2025
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
4.5% 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 fixed rate period.

Up to 80% LTV (up to 70% for Interest Only and 75% for Help to Buy) (excluding any fees).

Incentives

If you are a Help to Buy applicant, you can use up to a further 20% from the Government’s Help to Buy Equity Loan scheme. Please see the governments Help to Buy Equity Loan Schemes guidelines for further information about the scheme.

Insurance

No compulsory insurances.

Eligibility

The mortgaged property must be your permanent home.

This mortgage is also available to applicants purchasing a new build property via the Help to Buy scheme in England and Wales via one of our branches or an intermediary. It is not available for the London Help to Buy scheme.

If you are a Help to Buy applicant, you won’t be able to sublet this home or enter a part exchange deal on your old home. You must not own any other property at the time you buy your new home with a Help to Buy: Equity Loan.

Higher lending charge
Not applicable.
Capital repayments
One lump-sum repayment of 10% allowed within the fixed rate period.
Early repayment charge
5% of the outstanding balance before 30th November 2022 / 4% of the outstanding balance before 30th November 2023 / 3% of the outstanding balance before 30th November 2024 / 2% of the outstanding balance before 30th November 2025
Portable
Yes
Notes

Please note the product is not portable for Help to Buy applications.

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
£120,000
Duration of the contract
21
The duration of the fixed period
5 Years and 3 Months
The initial fixed rate
3.49%
The amount of the fixed rate instalments
£673.15
The number of the fixed instalments
63
The frequency of the fixed instalments
monthly
Our Standard Variable Rate (SVR)
5.3%
The duration of the SVR period
15 years and 9 months
The frequency of the SVR instalments
monthly
The amount of SVR instalments
£763.96
The total amount payable
£186,886.89
The total amount of interest payable
£66,677.77
Mortgage exit fee
£90
Product fee
0.50%
Account fee
£120
The overall cost for comparison
4.5% 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 01/09/2020.

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

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