Standard Variable Rate

Maximum Loan to Value (LTV) 90% LTV
Our Standard Variable Rate, currently: 5.74% (The Society’s Standard Variable Rate is set by its Board of Directors)
The Overall Cost for Comparison is: 6.1% APRC
Interest Calculated: Daily

Minimum – 18 years

Minimum – 1 years
Maximum – 40 years

Minimum Loan £50,000

Maximum Loan £1,000,000 (Subject to LTV)

Not available to customers who meet the Credit Renew criteria

Available for house purchases, re-mortgages with a mortgage of 90% LTV. The mortgage is secured against your home. Some property types and locations are not acceptable, for further information please speak to your mortgage advisor.

This type of mortgage follows our standard variable rate, which is set by the Society’s Board of Directors and can vary.

Application Fee £145 (paid on application, non-refundable).
Scheme Fee 0.75% of the loan (can be added to the loan, subject to LTV, or paid on completion. Further details are available on application).
Mortgage Exit Administration Fee £75 (paid on redemption).
Valuation Fee Paid directly to valuer by the applicant – see Valuation Fee Scale for details. A standard mortgage valuation is required on all properties.
Procuration Fee If arranged via an introducer a Procuration fee will be paid to the Introducer by the Society upon completion of the mortgage. Please refer to your Introducer for details.
Early Repayment Charge There is no Early Repayment Charge.
Overpayments Unlimited overpayments permitted. The Society reserves the right to request evidence of source of funds.
Portability You can keep this mortgage should you move to a new property. This mortgage is portable subject to your status meeting our criteria.
Insurance Buildings insurance is compulsory in all instances, the Society will require a copy of the customer’s policy in advance of completion.
Representative Example: The following is a representative example based on a mortgage of £160,139.00 payable over 25 years on our Standard Variable Rate of 5.74%. In this example you would make an initial payment of £1,359.07, then 299 monthly payments of £1,006.50.

The total amount payable would be £304,253.61 made up of the loan plus interest of £142,163.57 and the following costs: CHAPS Fee (£25.00), Application Fee (£145.00), Mortgage Exit Administration Fee (£75.00), Scheme Fee (£1,201.04), Standard Valuation (£175.00) and a Separate Representation Fee (£330.00).

The overall cost for comparison is 6.1% APRC representative.

Note: What you will pay may vary from this and will depend on your personal circumstances.