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Credit Renew Mortgages
Our range of Credit Renew Mortgages are designed for customers who are not credit impaired but have recently experienced a life event they have recovered from, which has impacted their credit profile meaning they do not meet our standard lending criteria.
Our mortgages
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Credit Renew 1 - 2 Year Discount 60% LTV
Initial Interest Rate
5.84%
Maximum Loan To Value (LTV)
60%
Overall Cost for Comparison
8.00%
Product Code
DP267
The following is a representative example based on a mortgage of £160,000 payable over 25 years initially on a discounted variable rate of 5.84% for 2 years, a further discounted variable rate of 7.34% for 4 years, followed by our Standard Variable Rate of 8.59%. In this example you would make 24 monthly payments of £1,015.29, 48 payments of £1,156.87 and 228 monthly payments of £1,265.69.
The total amount payable would be £370,098.04 made up of the loan amount plus interest of £208,474.04 and the following costs, a Scheme Fee of (£1,299.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£225.00), and a Mortgage Exit Administration Fee (£75.00).
The overall cost for comparison is 8.0% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.
Credit Renew 1 - 2 Year Discount 90% LTV
Initial Interest Rate
6.99%
Maximum Loan To Value (LTV)
90%
Overall Cost for Comparison
8.20%
Product Code
DP268
The following is a representative example based on a mortgage of £216,634 payable over 25 years initially on a discounted variable rate of 6.99% for 2 years, a further discounted variable rate of 7.34% for 4 years, followed by our Standard Variable Rate of 8.59%. In this example you would make 24 monthly payments of £1,529.74, 48 payments of £1,575.80 and 228 monthly payments of £1,724.03.
The total amount payable would be £507,030.00 made up of the loan amount plus interest of £288,797.00 and the following costs, a Scheme Fee of (£1,299.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£200.00), and a Mortgage Exit Administration Fee (£75.00).
The overall cost for comparison is 8.2% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.
Credit Renew 2 - 2 Year Discount 60% LTV
Initial Interest Rate
6.04%
Maximum Loan To Value (LTV)
60%
Overall Cost for Comparison
8.00%
Product Code
DP269
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 6.04% for 2 years, a further discounted variable rate of 7.34% for 4 years, followed by our Standard Variable Rate of 8.59%. In this example you would make 24 monthly payments of £1,401.08, 48 payments of £1,568.09 and 228 monthly payments of £1,715.59.
The total amount payable would be £501,722.76 made up of the loan amount plus interest of £283,414.76 and the following costs, a Scheme Fee of (£1,299.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£275.00), and a Mortgage Exit Administration Fee (£75.00).
The overall cost for comparison is 8.0% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.
Credit Renew 2 - 2 Year Discount 75% LTV
Initial Interest Rate
7.34%
Maximum Loan To Value (LTV)
75%
Overall Cost for Comparison
8.30%
Product Code
DP270
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 7.34% for 2 years, a further variable discounted rate of 7.34% for 4 years, followed by our Standard Variable Rate of 8.59%. In this example you would make 24 monthly payments of £1,578.48, 48 payments of £1,578.43 and 228 monthly payments of £1,726.91.
The total amount payable would be £509,006.44 made up of the loan amount plus interest of £290,748.44 and the following costs, a Scheme Fee of (£1,299.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£225.00), and a Mortgage Exit Administration Fee (£75.00).
The overall cost for comparison is 8.3% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.