EDIS127 - Two Year Discounted Rate Mortgage - Large Loan

A discount variable rate mortgage has an interest rate that is set a certain amount below the Society’s standard variable rate (SVR). Following a change to our SVR your mortgage payment will change too and these changes can be outside of a Bank of England Base Rate change.

How much will it cost?

An initial rate* of Followed by The overall cost for comparison is Maximum Loan To Value Fees
2.35% 3.7% 80% £1,999.00
* until 31 January 2024 APRC
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 £875,000 over 22 years, the cost for credit would be £407,876.08, meaning you repay a total of £1,282,876.08. This would be repaid by 24 monthly repayments of £4256.57 followed by a further 240 monthly repayments of £4918.31.

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Please read full summary before applying

Summary Information

Interest Rates 1.61% Discount from the Society’s SVR (currently 3.96%) giving a current pay rate of 2.35% until 31st January 2024.
Maturity Date 31 January 2024
Maximum Loan to Value (LTV) 80%
Loan Amount £500,000 - £1,000,000
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 £199
Completion Fee £1800
Incentives Free Standard Valuation (No Limit)
10% overpayments allowed per annum
Early Repayment Charge 1% of amount repaid until 31st January 2024.

Useful Documents

Below you will find useful mortgage documents which will assist you in submitting your application.

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