First Homes

We’re proud to have a common sense approach to lending – with each case being manually underwritten. This means that throughout the process, we’re able to offer flexibility to support you and your clients with direct access to an underwriter.


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Government First Homes Scheme - 2 Year Discount 95% LTV

Initial Interest Rate

5.84%

Maximum Loan To Value (LTV)

95%

Overall Cost for Comparison

7.80%

Product Code

IP222

The following is a representative example based on a mortgage of £216,634.00 payable over 25 years initially on a discounted variable rate of 5.84% for 2 years, a further discounted variable rate of 7.14% for 4 years, followed by our Standard Variable Rate of 8.39%. In this example you would make 24 monthly payments of £1,374.67, 48 payments of £1,540.12 and 228 monthly payments of £1,686.14.

The total amount payable would be £492,231.76 made up of the loan amount plus interest of £274,723.76 and the following costs, a Scheme Fee of (£599.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£200.00), and a Mortgage Exit Administration Fee (£50.00).

The overall cost for comparison is 7.8% APRC representative.

Note: What you will pay may vary from this and will depend on your personal circumstances.