SPECIAL MORTGAGE SCHEMES

Transcription

1 BUILDING SOCIETY Modern mortgages Traditional service Intermediary Only SPECIAL MORTGAGE SCHEMES KEY FEATURES Available at 1 February 2016 Reasons to do business with us s on any of our variable rate or shorter term fixed rate products Only our 5 year fixed rate products have ERCs. Please note that we do not consider applications for shortterm lending. Individual underwriting with no automated decisions or credit scoring Many areas of our lending policy are flexible for otherwise good quality applications. Full online service Instant registration at hrbsintroducer.co.uk for basic DIPs, KFIs, online submission and secure document upload. Easy contact systems Phone us or use the callback request link on the website if you have a case which requires individual consideration and a BDM will call you soon afterwards to discuss the case in full. We have easy access to senior underwriters if necessary. Dedicated case owner/no call centres Mortgage applications are allocated to a single member of staff in our processing team. Direct dial numbers are always given. Standard features of all Hinckley & Rugby residential mortgages: Available on properties in England and Wales Available for capital and interest repayment mortgages only Minimum loan 75,000 (existing members 50,000) Minimum term 5 years Flexible approach to underwriting with each case considered on its merits No credit scoring The actual rate and will depend on the client s circumstances and an assessment of the risk Interest calculated on a daily basis standard administration fee for remortgages see note under Property Assessment Fees No tied insurances Minimum age for applicants 21 (for SVR mortgage product, minimum age for applicants 18) Portable up to the existing mortgage balance Tariff of charges during the life of any mortgage available on request For remortgages, the property must have been owned by the applicants for a minimum of 12 months A scale of Property Assessment Fees will apply to house purchase and remortgage applications for all products. A scale of the fees applicable to individual products is provided. There is no property assessment fee for remortgages on a property with a value not exceeding 1m, unless the is unable to obtain a standard remortgage property assessment in which case a fee according to the s standard fee scale will apply. For a price or value exceeding 2m, please contact the for further details. If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application. All fees shown represent the cost of the property assessment to the plus an administration fee of 35 to cover the s own costs of arranging the property assessment and assessing the report when it is received. standard administration fee for remortgages As long as the property is already registered at HM Land Registry in the same name(s) as the mortgage applicant(s), the will arrange for the new Legal Charge to be registered in the name of the. You will be advised of any additional administrative or insurance charges, which you will be required to pay.

2 RATE MORTGAGES 5 YEAR RATE MORTGAGES Available at 1 February % (F119) 90% (F112) FOR 5 YEARS FROM DATE OF COMPLETION 2.79% FOR 5 YEARS FROM DATE OF COMPLETION 3.45% REVERTS REVERTS 4.6% 4.8% to 60% LTV 325,000 from to 85% LTV 300,000 from 85% to 90% LTV 95% (F115) FOR 5 YEARS FROM DATE OF COMPLETION 4.79%* REVERTS 5.4% 275,000 from 90% to 95% LTV Fees payable on 5 Year Fixed Rate Mortgages: Arrangement fee (nonrefundable) must be paid at time of submitting assessment: 199 property assessment where the price or value of the property is 1 million or less. Property assessment fee payable on prices or values of more than 1 million (nonrefundable after property assessment carried out for the ): see scale below Completion fee (nonrefundable) this fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion: 800 been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges mortgage: currently 150 Early repayment charge payable as follows: During year 1: 5% of the amount repaid early plus fees During year 2: 4% of the amount repaid early plus fees During year 3: 3% of the amount repaid early plus fees During year 4: 2% of the amount repaid early plus fees During year 5: 1% of the amount repaid early plus fees This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage. Overpayments of up to 10% per year may be made without incurring the early repayment charge Higher lending charge (applicable over loan to value only) paid by the * Not available for new build properties Property assessment fees

3 RATE MORTGAGES 2 YEAR RATE MORTGAGES Available at 1 February 2016 TO (RVF1) FOR 2 YEARS FROM COMPLETION 2.19% 4.6% to 60% LTV TO 90% (RVF24) FOR 2 YEARS FROM COMPLETION 2.35% 4.7% 300,000 from 85% to 90% LTV TO FOR 2 YEARS FROM COMPLETION 95%** (RVF22) 3.95%* 5.1% 275,000 from 90% to 95% LTV Fees payable on 2 Year Fixed Rate Mortgages: Arrangement fees (nonrefundable) must be paid at time of submitting assessment: all products: 199 Completion fees (nonrefundable) this can be paid before the start of be deducted from the mortgage advance on completion: 800 ** No completion fee s Property assessment fee (nonrefundable after property assessment carried out for the ): see scale below mortgage: currently 150 Higher lending charge (applicable over loan to value only) paid by the * Not available for new build properties Property assessment fees 200, , , , , , , ,000

4 DISCOUNT MORTGAGES 2 YEAR DISCOUNT MORTGAGES Available at 1 February 2016 TO 85% (RVD16) DISCOUNT OFF SVR FOR 2 YEARS 1.65% 4.6% 325,000 from to 85% LTV TO 90% (RVD18) 3.69% DISCOUNT OFF SVR FOR 2 YEARS 1.95% 4.6% 300,000 from 85% to 90% LTV TO 95% (RVD19) 2.25% DISCOUNT OFF SVR FOR 2 YEARS 3.39%* 4.9% 275,000 from 90% to 95% LTV Fees payable on these mortgages Arrangement fees (nonrefundable) must be paid at time of submitting assessment: 199 Property assessment fee (nonrefundable after property assessment carried out for the ): see scale below mortgage: currently 150 Higher lending charge (applicable over loan to value only) paid by the Completion fees (nonrefundable) this can be paid before the start of be deducted from the mortgage advance on completion: 800 * Not available for new build properties 200,00 300, , , , , , ,000

5 DISCOUNT MORTGAGES LIFETIME DISCOUNT MORTGAGES Available at 1 February 2016 (LTDS15/LTDO15) 3.69% OF MORTGAGE 1.95% 2.0% to 60% LTV 90% (LTDS17/LTDO17) 3.4% OF MORTGAGE 2.24% 2.3% 325,000 from to 85% LTV 300,000 from 85% to 90% LTV 95% (LTDS18/LTDO18) 2.15% OF MORTGAGE 3.49%* 3.6% 275,000 from 90% to 95% LTV Special features of this mortgage: Offset facility available if required please ask for our separate Offset information leaflet 1.95% product only Flexible features, including the facility for payment holidays and the ability to make overpayments Arrangement fees (nonrefundable) must be paid at time of submitting assessment: 199 property assessment where the price or value of the property is 1 million or less. Property assessment fee payable on prices or values of more than 1 million (nonrefundable after property assessment carried out for the ): see scale below mortgage: currently 150 Completion fees (nonrefundable) this can be paid before the start of be deducted from the mortgage advance on completion: 800. Higher lending charge (applicable over loan to value only) paid by the * Not available for new build properties

6 DISCOUNT MORTGAGES LIFETIME FEE FREE DISCOUNT MORTGAGES Available at 1 February 2016 (FFLDF6/FFLDO6) 2.65% DISCOUNT OFF STANDARD RATE OF MORTGAGE 2.99% 3.1% to 60% LTV Special features of this mortgage: No fees payable on this product Offset facility available if required please ask for our separate Offset information leaflet Flexible features, including the facility for payment holidays and the ability to make overpayments No arrangement fee No completion fee No sealing fee/mortgage exit fee/administration fee on redemption of mortgage property assessment where the price or value of the property is 1 million or less. Property assessment fee payable on prices or values of more than 1 million (nonrefundable after property assessment carried out for the ): see scale below

7 TRACKER MORTGAGES LIFETIME TRACKER MORTGAGES Available at 1 February 2016 (FLTK32/OFST20) TRACKS AT 2.39% ABOVE BoE BASE RATE 2.89% WILL NOT GO BELOW A FLOOR OF 2.89% 3.0% to 60% LTV 85% (FLTK31/OFST19) TRACKS AT 3.19% ABOVE BoE BASE RATE 3.69% WILL NOT GO BELOW A FLOOR OF 3.69% 3.8% 325,000 from to 85% LTV Special features of this mortgage: Offset facility available if required please ask for our separate Offset information leaflet 2.89% product only Flexible features, including the facility for payment holidays and the ability make overpayments Arrangement fees (nonrefundable) must be paid at time of submitting assessment: 2.89% product ; 3.69% product 395 property assessment where the price or value of the property is 1 million or less. Property assessment fee payable on prices or values of more than 1 million (nonrefundable after property assessment carried out for the ): see scale below mortgage: currently 150 Completion fee (nonrefundable) this fee can be paid before the start of be deducted from the mortgage advance on completion: 695 Higher lending charge (applicable over loan to value only) paid by the

8 SELF BUILD MORTGAGES SELF BUILD MORTGAGES* Available at 1 February 2016 (SBSVR) THE SOCIETY S STANDARD RATE OF INTEREST 5.9% to 60% LTV * Arrangement fee (nonrefundable) must be paid at time of submitting assessment: Completion fee (nonrefundable) this fee can be paid before the start of be deducted from the mortgage advance on completion: 695 Property assessment fee (nonrefundable after property assessment carried out for the ): see scale below mortgage currently 150 Special requirements for Self Build Mortgages PLANS, ESTIMATES AND PLANNING/BUILDING CONSENTS The requires plans that have been drawn up by the supervising Property assessment fees Royal Institute of British Architects (RIBA) qualified architect to be presented with the mortgage application, together with fully costed building specifications, and evidence of all necessary planning and building consents. STAGE PAYMENTS The applicant must already own the land. Confirmation of the price paid for the land must be provided with the mortgage application. Subject to approval of the application, the will release the agreed advance in up to four separate equal stages, as follows: 1) When the footings have been put in 2) When the firstfloor joists are in place (wall plates in the case of a bungalow) 3) When the roof is fully fitted 4) When the property is completed Applicants will be responsible for payment of reinspection fees prior to release of stage payments. SELFBUILD NEW PROPERTY WARRANTY The will normally require that the property has been planned, constructed and completed under the supervision of a RIBA qualified architect who is registered with the Architects Registration Board and who is currently active in the field of residential development, and acting under the direct instructions of the mortgage applicant. Not exceeding 200, , , , , , , ,000 Property assessment fee

9 OTHER MORTGAGES STANDARD RATE MORTGAGE Available at 1 February % (DBASE) THE SOCIETY S STANDARD RATE OF INTEREST 5.9% to 60% LTV Arrangement fee (nonrefundable) must be paid at time of submitting mortgage application: 250 Property assessment fee (nonrefundable after property assessment carried out for the ): see scale below No completion fee mortgage currently , , , , , , , ,000