Right-to-Buy |
If your client is buying their home from a Local Authority, we can consider a Houses that are built of a traditional construction as well as flats and maisonettes, providing that there are not more than four floors, can be considered. Clearly it is very important to make sure that the mortgage and other outgoings are affordable. We will be pleased to listen to your client's plans even if they are not straightforward, e.g. a relative may be willing to act as a Guarantor. Key features of this mortgage |
mortgage for up to the discounted purchase price providing that we are not lending more than 75% of the current market valuation.| Minimum loan: | £10,000 |
| Maximum loan: | £500,000 |
| Value of property: | Not less than £75,000 |
| Max Loan to Value: | 100% of discounted price |
| Current variable rate: | 6.19% * |
| Overall cost for comparison: | 6.60% APR * |
| Leasehold: | Plus 0.15% to above rates |
| Portable: | Yes |
| Ages: | Minimum 18 - no maximum |
| Income capacity: | Based on affordability |
| Valuation fee: | See Scale |
| Property location: | England and Wales |
| Repayment methods: | Repayment, interest-only, part & part |
| Administration Fee: | £25 |
| Available for new purchase: | Yes |
| Available for remortgage: | Yes |
| Early repayment charge: | For the first 3 years |
| Deeds Release fee: | £50 |
| Redemption fee: | £75 |
* The actual rate payable will depend upon your client's individual circumstances, please ask for a personalised illustration. To discuss your client's requirements, either complete our on-line Enquiry form or telephone our Mortgage Department on 01582 765411. Building insurance cover is required and can be arranged by the Society. |
The Society is authorised and regulated by the
Financial Services Authority