Maximum Loan To Value (LTV)
90%
Initial Interest Rate
7.14%
Standard Variable Rate thereafter
8.39%
Overall Cost for Comparison (APRC)
8.40%
Interest Calculated
Daily
Initial Interest Rate: 7.14% (1.25% discount from our Standard Variable Rate for 2 years. The discount is subject to a minimum interest rate floor of 2.00%).
This is a limited issue and the Society reserves the right to withdraw this scheme without notice at any time.
The following is a representative example based on a mortgage of £216,634 payable over 25 years initially on a discounted variable rate of 7.14% for 2 years followed by our Standard Variable Rate of 8.39%. In this example you would make 24 monthly payments of £1,550.53, 276 monthly payments of £1,718.85.
The total amount payable would be £511,665.32 made up of the loan amount plus interest of £294,981.32 and the following cost, a Mortgage Exit Administration Fee (£50.00).
The overall cost for comparison is 8.4% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.
Early Repayment Charge
There is no early repayment charge for this product.
Mortgage Exit Administration Fee
£50.00 (payable on redemption)
Procuration Fee
Please note that if you apply for a product switch via an intermediary a Procuration Fee will be paid by the Society upon completion of the mortgage. Please refer to your mortgage intermediary for details.
Age
Minimum - 18
Maximum - No Maximum Age
Term
Minimum - 1 Month
Maximum - 2 Years (should your circumstances change within the two years and before your mortgage term ends, please contact your Chorley Building Society Mortgage adviser to discuss your options)
Loan Size
Minimum - £5,000
Maximum - £1,200,000 (Maximum Loan amounts vary by LTV, please refer to our current criteria for details)
Availability and Suitability
This product is only available for current Chorley Building Society mortgage customers who have 2 years or less remaining on their mortgage term. If you have longer than 2 years remaining, or are intending to make changes to your mortgage term, we recommend discussing suitable product options with your Chorley Building Society Mortgage Adviser.
Overpayments
Unlimited overpayments permitted. The Society reserves the right to request evidence of source of funds.
Portability
You can keep this mortgage should you move to a new property. This mortgage is portable subject to your status meeting our criteria.
Insurance
Buildings insurance is compulsory in all instances.
At Chorley Building Society, we aim to help you find the mortgage that’s right for you and provide you with the best possible service. Whether looking to purchase a home or remortgage, we are here to help.
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