Our Mortgage Rates and Features Guide for New Purchase Mortgages

Transcription

1 Our Mortgage Rates and Features Guide New Purchase Mortgages This Mortgage Rates and Features Guide should be used in conjunction with our general Mortgage Guide which will give you more in depth inmation. This leaflet gives you the specific rates, features and prices of our current range to help you understand more about our s. Important inmation Loans are subject to status and, minimum age is 18 years and we lend in England, Wales and Scotland. We require a first (also known as a first charge ) any loan. This means that the loan takes priority over any other borrowing secured on your property; if your property is sold the first will be paid off first. Please be aware that our products can be withdrawn without notice and funds will not be allocated to applicants until we have received a fully completed application m, any relevant s and supporting documentation. Mortgage offers are valid six months (except additional borrowing offers which are valid one month) and are not transferable to different properties. It is our practice to send the loan to your conveyancer by CHAPS and the charge of 6 will be payable. You can choose to add this to the loan, or to avoid incurring additional interest, you can pay this bee the offer. Monthly payments must be paid in advance by Direct Debit on the 1st of each month. The interest rates quoted include a 0.25% Direct Debit discount. If the Direct Debit is cancelled, this discount is removed. Remember, this Mortgage Rates and Features Guide is a starting point finding out about the s we offer. We provide advice to recommend the most appropriate product you. Our Mortgage Specialists in Skipton Direct can give you further inmation or book you an appointment with a Mortgage Adviser. You can call them on Let us know what you think If you are not satisfied with our services we have an internal complaints procedure. For more inmation please call us on , ask in branch or visit The Financial Ombudsman Service provides a free and independent service consumers, and can be contacted at The Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone: YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. For more inmation Call: Visit: skipton.co.uk

2 Additional product details Fees can be added to the loan to a maximum LTV of 95%. Where a maximum LTV of 95% is requested, the applicant must pay any product prior to offer. All loans are subject to afdability and current lending criteria. Minimum 50,000 / price (whichever is the lowest). Important : The products shown are those available through our Skipton Direct team. There may be other products available through intermediaries. These Skipton s may be portable (where you transfer your to a new owner-occupied property). Please note, the Help to Buy Equity Loan from the Homes and Communities Agency is not portable and would need to be repaid. Interest s are available through our interest product range (max LTV 70%, not available to first time buyers). Please see the dedicated interest rates and features guide on our website or contact us more inmation. Please note, where separate interest rates apply different LTVs, a change in your or loan required may mean you are ineligible the rate you originally applied. In this instance you will be advised of the change and asked if you still wish to proceed with your application. Overpayments are allowed without charge up to 10% of the original loan each year and cannot be rolled over. Overpayments over this amount may incur an Charge depending upon your product. The maximum amount you can borrow depends on your LTV ratio. Our maximum lending limits are shown below; - 0 to 500,000 - LTV - 500,001 to 625,000-85% LTV - 625,001 to 750,000-80% LTV - 750,000 plus - 75% LTV Fees and charges Please refer to your Mortgage Illustration inmation on the basis of which s payable, (whether paid upfront or added to the loan) are refundable. Where no applies or the ERC period has expired unlimited overpayments can be made. Standard s These are free both s and res except where the value of the property is more than 1.5m. The valuer s report is the benefit of the Society purposes and does not guarantee that the property is free from defects. If you are purchasing a property you may require a Home Buyers Report or full ings Survey. Please ask a adviser details. A higher charge is payable this type of, which is a contract directly between you and the valuer. If you change the property to another during the process, and the original property has already had a free, a will apply to the second property or any further property. Please ask a adviser if you have any questions about s. Help to Buy Important term the Help to Buy equity loan is 35 years. The Help to Buy equity loan cannot last longer than the Skipton term. You cannot rent out your existing home and buy a second home through Help to Buy. Help to Buy s must be repaid on a capital and interest basis. Help to Buy customers wishing to take additional borrowing must first seek approval from their appointed Home Buy agent. Help to Buy is not available to assist Buy to Let investors or those who will own any property other than their Help to Buy property completing their. For full details of the scheme, refer to helptobuy.org.uk, scotland.gov.uk or wales.gov.uk Description of Abbreviations RMVR = Residential Mortgage Variable Rate RMVR was introduced on 14 November It is a different interest rate to the Society s Residential Standard Variable Rate (RSVR), although both are set by the Society. These two interest rates may change by different amounts and at different times. The RMVR does not have any ceiling. BoEBR = Bank of England Base Rate The interest rate at which the Bank of England will lend to the UK banking sector. ERC = Charge A charge that you will incur if you pay off your loan in part or in full within a pre-agreed period. Skipton ing Society is a member of the ing Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number , accepting deposits, advising on and arranging s and providing Restricted financial advice. Principal Office, The Bailey, Skipton, North Yorkshire BD23 1DN. Stock Code: _03/10/17 LTV = Loan-to-Value The amount of a loan expressed as a percentage of the value of the property against which the loan will be secured.

3 Fixed Rate Mortgages New Purchases 2 Year Fixed Rate Mortgages New Purchase Until 31/12/2019 the rate is fixed at 1.29 Until 31/12/2019 the rate is fixed at % APRC 60% Until 31/12/2019 the rate is fixed at % APRC 70% Until 31/12/2019 the rate is fixed at 1.51 Until 31/12/2019 the rate is fixed at % APRC 75% 4.3% APRC 0 0 Until 31/12/2019 the rate is fixed at 1.71 Until 31/12/2019 the rate is fixed at % 0 0 Until 31/12/2019 the rate is fixed at 1.86 Until 31/12/2019 the rate is fixed at % 0 0 Until 31/12/2019 the rate is fixed at 2.29 Until 31/12/2019 the rate is fixed at % APRC 4.5% APRC 0 0 Not available A representative example a 2 Year Fixed Rate Mortgage New Purchases. The 4.5% APRC is calculated the following: A repayment of 145,000 payable over 28 years and 6 months, initially on a rate fixed until 31/12/2019 at 2.44% and then our RMVR variable rate currently % the remaining term would require 24 monthly payments of and 317 monthly payments of followed by a final payment of The total amount payable would be 255, made up of the loan amount plus interest and CHAPS of 6. The

4 Fixed Rate Mortgages New Purchases 5 Year Fixed Rate Mortgages New Purchase Until 31/12/2022 the rate is fixed at 1.89 Until 31/12/2022 the rate is fixed at % APRC 3.6% APRC 60% Until 31/12/2022 the rate is fixed at % APRC 0 0 Until 31/12/2022 the rate is fixed at 2.09 Until 31/12/2022 the rate is fixed at % APRC 70% 3.8% APRC 0 0 Until 31/12/2022 the rate is fixed at 2.19 Until 31/12/2022 the rate is fixed at % APRC 75% 3.9% APRC 0 0 Until 31/12/2022 the rate is fixed at 2.19 Until 31/12/2022 the rate is fixed at % APRC 80% 3.9% APRC 0 0 Until 31/12/2022 the rate is fixed at 2.24 Until 31/12/2022 the rate is fixed at % APRC 4.0% APRC 85% Until 31/12/2022 the rate is fixed at % APRC 0 0 Until 31/12/2022 the rate is fixed at 2.61 Until 31/12/2022 the rate is fixed at 2.99 Until 31/12/2022 the rate is fixed at % APRC 4.2% APRC Not available A representative example a 5 Year Fixed Rate Mortgage New Purchases. The 4.2% APRC is calculated the following: A repayment of 145,000 payable over 28 years and 6 months, initially on a rate fixed until 31/12/2022 at 3.05% and then our RMVR variable rate currently % the remaining term would require 60 monthly payments of and 281 monthly payments of followed by a final payment of The total amount payable would be 249, made up of the loan amount plus interest and CHAPS of 6. The

5 Base Rate Tracker Variable Mortgages. 2 Year Base Rate Tracker Variable Mortgages any rate change will come into effect 14 days a BoEBR change. Early Rate Repayment Floor 0.25%, plus 0.74% giving a current pay 0.25%, plus 0.95% giving a current pay % APRC 60% None 4.0% APRC 0 0. Free legal s res 0.25%, plus 1.03 % giving a current pay 0.25%, plus 1.14% giving a current pay % APRC 75% None. Free legal s res 0.25%, plus 1.40% giving a current pay 0.25%, plus 1.55% giving a current pay % None 4.3% APRC 0 0. Free legal s res 0.25%, plus 1.61% giving a current pay 0.25%, plus 1.74% giving a current pay None 0 0. Free legal s res A representative example a 2 Year Base Rate Tracker Variable Mortgage The is calculated the following: A repayment of 180,000 payable over 31 years and 9 months, 2 years on a variable rate BoEBR +1.74%, giving a pay 1.99% and then our RMVR variable rate currently % the remaining term would require 24 monthly payments of and 356 monthly payments of followed by a final payment of The total amount payable would be 334,957.36, made up of the loan amount plus interest and CHAPS of 6. The

6 Fixed Rate Help to Buy Mortgages Help to Buy Equity Loan Scheme England, Wales, London and Scotland The maximum price is 600,000 England and London, and 300,000 Wales. The maximum price Scotland is 230, Year Fixed Rate Help to Buy Mortgages Until 31/01/2020 the rate is fixed at % 0 0 2% until 31/01/2019 1% until 31/01/2020 Until 31/01/2020 the rate is fixed at % APRC 80% 0 0 2% until 31/01/2019 1% until 31/01/2020 in Scotland A representative example a 2 Year Fixed Rate Help to Buy Mortgage New Purchases. The 4.5% APRC is calculated the following: A repayment of 140,000 payable over 29 years and 6 months, initially on a rate fixed until 31/01/2020 at 2.49% and then our RMVR variable rate currently % the remaining term would require 24 monthly payments of and 329 monthly payments of followed by a final payment of The total amount payable would be 251, made up of the loan amount plus interest and CHAPS of 6. The 5 Year Fixed Rate Help to Buy Mortgages Until 31/01/2023 the rate is fixed at % APRC 75% 0 0 5% until 31/01/2020 4% until 31/01/2021 3% until 31/01/2022 2% until 31/01/2023 Until 31/01/2023 the rate is fixed at % APRC 80% 0 0 5% until 31/01/2020 4% until 31/01/2021 3% until 31/01/2022 2% until 31/01/2023 in Scotland A representative example a 5 Year Fixed Rate Help to Buy Mortgage New Purchases. The 4.2% APRC is calculated the following: A repayment of 140,000 payable over 29 years and 6 months, initially on a rate fixed until 31/01/2023 at 2.99% and then our RMVR variable rate currently % the remaining term would require 60 monthly payments of and 293 monthly payments of followed by a final payment of The total amount payable would be 244, made up of the loan amount plus interest and CHAPS of 6. The

7 New Mortgages 2 Year Fixed Rate Mortgages New Until 31/01/2020 the rate is fixed at 2.35 Until 31/01/2020 the rate is fixed at % APRC 4.5% APRC 0 0 2% until 31/01/2019 1% until 31/01/2020 A representative example a 2 Year Fixed Rate New Mortgage New Purchases. The 4.5% APRC is calculated the following: A repayment of 160,000 payable over 29 years and 8 months, initially on a rate fixed until 31/01/2020 at 2.65% and then our RMVR variable rate currently % the remaining term would require 24 monthly payments of and 331 monthly payments of followed by a final payment of The total amount payable would be 289, made up of the loan amount plus interest and CHAPS of 6. The 5 Year Fixed Rate Mortgages New Until 31/01/2023 the rate is fixed at 3.04 Until 31/01/2023 the rate is fixed at % APRC 5% until 31/01/2020 4% until 31/01/2021 3% until 31/01/2022 2% until 31/01/2023 A representative example a 5 Year Fixed Rate New Mortgage New Purchases. The 4.2% APRC is calculated the following: A repayment of 160,000 payable over 29 years and 8 months, initially on a rate fixed until 31/01/2023 at 3.12% and then our RMVR variable rate currently % the remaining term would require 60 monthly payments of and 295 monthly payments of followed by a final payment of The total amount payable would be 282, made up of the loan amount plus interest and CHAPS of 6. The