Two Year Fixed Rate Mortgage - North East Exclusive

A fixed interest rate mortgage helps to make budgeting easier, as your monthly repayments stay the same each month during the fixed interest rate period.

So there's no sudden changes in how much you need to find to make your repayments even if interest rates rise or fall.

We have therefore launched an exclusive range of products aimed at helping first time buyers in the North East in the following postcode areas: NE, SR, DH, TD15, TD12, DL, TS, CA1 - 11.

How much will it cost?

Property value?

With deposit of?

Mortgage term?

An initial rate* of	Followed by our Standard Variable Rate, currently	The overall cost for comparison is	Maximum Loan To Value	Fees
3.25%	5.99%	5.6%	95%	£0
* until 30 April 2021		APR

*The repayment indications DO NOT include any fees that may be payable - should you wish to find out more about a particular mortgage, an illustration outlining all the relevant costs, is available on request.

If you borrowed £120,000 over 30 years, the cost for credit would be £129,303.77, meaning you repay a total of £249,303.77. This would be repaid by 27 monthly repayments of £522.25 and a further 393 monthly repayments of £705.94.

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Summary Information

Interest Rates	Initial rate of 3.25% until 30th April 2021 reverting to our Standard Variable Rate (currently 5.99%) from 1st May 2021.
Maturity Date	30 April 2021
Maximum Loan to Value (LTV)	95%
Loan Amount	£50,000 - £300,000
Daily Interest Calculation	Interest is calculated on the balance of your account at the end of each day. Interest is accrued daily and added to your account balance on the last day of every month. Every cleared payment that is made reduces the mortgage balance and interest is recalculated on the reduced balance.
Minimum Term	5 Years
Reservation Fee	£0
Completion Fee	£0
Incentives	Free Standard Valuation (on properties up to £500k) £500 Cashback. 10% overpayment allowed per annum.
Early Repayment Charge	2% of amount repaid until 30th April 2020, 1% of amount repaid until 30th April 2021.

Useful Documents

Apply for a mortgage today

Talk to our mortgage advisers

0345 606 4488

Calls to 0345 numbers, cost the same as a call to a standard ‘01’ or ‘02’ landline number, even when calling from a mobile. Contact your provider for more information.

Your mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

If you would prefer to open an account in person instead of online, book an appointment at one of our branches.

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