The use of cookies

By navigating through this site, you consent to us collecting information using cookies. At any time, you can set your browser to notify you when a cookie is sent or to refuse cookies altogether, but certain features of this site might not work without cookies.

To find out more about cookies see our policy on Privacy and Cookies

Mutual Respect

From your local mortgage and savings experts

Request A Call Back

3 Year Discount

We discount our Standard Variable Rate (SVR) for the first 3 years of this mortgage. The interest rate will vary as our Standard Variable Rate moves up or down, but the amount of discount stays the same at 0.46% for this 95% loan to value mortgage product.

3 Year Discount

Key Features

Product Initial Interest
Rate
Period Max
LTV
Fees
3 Year Discount 3.74% Variable  (Our SVR with a 0.46% discount) 3 Years 95% Purchase: £600

A mortgage of £299,250 payable over 30 years initially on our standard variable rate, currently 4.2% with a discount of 0.46% for 36 months giving a current rate payable of 3.74% and then on our standard variable rate, currently 4.2% for the remaining 27 years would require 36 monthly payments of £1,384.18 and 324 monthly payments of £1,456.97 plus one initial interest payment of £122.65.

The total amount payable would be £522,726.41 made up of the loan amount plus interest of £222,761.41 an application fee of £600 and a MEAF of £115.

The overall cost for comparison is 4.2% APRC representative.

* Rates shown above are based on an LTV of 95%. The actual rate will depend on your circumstances. Ask for a personalised illustration.

Is an Early Repayment Charge (ERC) payable?:

  • The Early Repayment Charge (ERC) period applies from the date of completion.

  • For this product the ERC period is 3 years from date of completion.

  • ERC is 3% in year 1, 2% in year 2 and 1% in year 3 of the original loan amount.

  • During the ERC period you are permitted to make overpayments up to 20% of the original loan amount per year. If overpayments exceed 20% in a year during the ERC period, you will have to pay the relevent ERC percentage rate on the amount of overpayment exceeding the permitted level. 

  • The full ERC is payable on the original loan amount if you repay your mortgage in full during the ERC period. The ERC will also be levied on previously permitted overpayments.

Fees:

Application Fee: £600

Mortgage Exit Administration Fee (MEAF): £115

Standard mortgage valuation fee:

Newbury Building Society will pay for one standard mortgage valuation. 

WE HAVE NO CURRENT PLANS TO WITHDRAW THIS PRODUCT BUT IT MAY BE WITHDRAWN WITHOUT NOTICE

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

THE LOAN WILL BE SECURED ON YOUR HOME.

Calculate your monthly payment

Are You... How much are you looking to borrow?
What is your property's value? What term are you looking for?
Repayment type?  

Calculator

Please complete the fields and click 'Calculate' to receive an approximate monthly payment.

Please note
You can use our mortgage calculator to find out how much your initial monthly mortgage repayments are likely to be. This can help you estimate the size of mortgage you can afford at a particular interest rate. It is important to remember that the figures are only a guide; the exact cost will depend on the particular mortgage you have. Newbury Building Society will provide those figures as part of your Key Facts® documentation.

How to apply
Please contact us to arrange an appointment with one of our qualified mortgage advisers where you will be provided with your Key Facts® documentation:

Telephone: 01635 555777

Click here to find your nearest branch

THIS INFORMATION DOES NOT CONTAIN ALL OF THE DETAILS YOU NEED TO CHOOSE A MORTGAGE.

MAKE SURE THAT YOU READ THE SEPARATE KEY FACTS ILLUSTRATION BEFORE YOU MAKE A DECISION.

Additional Information

Availability
Properties must be located in the following post code areas; AL, BA, BH, BN, BS, DT, EX, GL, GU, HA, HP, HR, KT, LU, MK, NN, OX, PO, RG, RH, SG, SL, SM, SN, SP, SO, TA, TW, UB, WD, WR. Product available to those purchasing their residential home subject to product terms. The mortgage term must be between 5 and 35 years. Minimum property value of £125,000.

New Build properties are not acceptable on this product.

Loan size:

£50,000 (Min)  -  £250,000 (Max)

Legal costs
Legal work is required when buying your home and is carried out by a solicitor, payable by you. We can use the same solicitors as you, providing there is a minimum of four Approved Managers/License Holders and they are registered on The Law Society website (www.lawsociety.org.uk).

Licensed conveyancers are also acceptable for residential business only. The conveyancer must be registered with the Council of Licensed Conveyancers and be in a firm with at least four Approved Managers/License Holders.

Incentives

  • No higher lending charge
  • Free valuation
  • Overpayments allowed
  • Portable

No higher lending charge applies, we will take out an insurance policy to cover the associated risk of lending more than 75% of the purchase price/valuation of your property but we will not charge you for it.

We will carry out a standard mortgage valuation at our cost, providing the mortgage completes. If the mortgage does not complete and the valuation has been carried out, you are responsible for paying it. Where the valuation fee is payable, our normal scale of valuation fees apply.  You can upgrade to a Home Buyers report if you wish and if you would prefer a full building survey, we can give you the names of some local surveyors who can organise this for you (see our Mortgages explained booklet for valuation and home buyer fees). Mortgage interest is charged on a daily basis. 

Maximum loan to value
Loan to Value (LTV) is the proportion of the value or price of the property (whichever is the lower) that you borrow on a mortgage. For example, a £150,000 mortgage on a house valued at £200,000 would mean an LTV of 75%. 

All loans over 70% LTV must be on a capital and interest repayment basis.

Fees
Application fees can be added to the mortgage provided this does not take the loan over 95% LTV. If you add the application fee to your mortgage, this increases the amount you borrow and will also increase your monthly payments. This fee is refundable if the mortgage does not take place.

A Mortgage Exit Administration Fee (MEAF) applies when you repay your mortgage. Please see our Tariff of charges leaflet and your Key Facts Illustration (KFI) for details.

Timescales
Completion must be within three months of the date of the formal mortgage offer. 

Portability
All our mortgages are portable, which means that if you move house within an early repayment charge period the product can be transferred to your new mortgage, up to the value of the product outstanding at redemption, without charge. If the loan amount on your new mortgage is lower, there may be a charge based on the difference between the old and the new loan amount. A higher lending charge may be applicable for the new mortgage.

Other charges
Charges applying to the ongoing administration of your mortgage are detailed in our Tariff of charges PDF, which you will be given before your mortgage completes.


Mortgage Guides

Literature

Mortgage Calculators

© Newbury Building Society

Tech Help  |  Accessibility  |  Contact Us  |  Connect  |  Site Terms  |  Site Map  |  Privacy

Newbury Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number 206077). Registered office: Newbury Building Society, 17 Bartholomew Street, Newbury, Berkshire, RG14 5LY.

English law applies and we will communicate with you in English. We are participants of the Financial Ombudsman Service. We have a complaints procedure which we will provide on request. Most complaints that we cannot resolve can be referred to the Financial Ombudsman Service.

You can check the Financial Services register on the FCA's website.

Close

Request a Call Back

Swoosh

Speak to one of our expert advisers on
01635 555777  or request a call back:

Name:
Phone:
Email:
Reason for Call Back: Savings   Mortgages   Insurance   Other
Local Branch:
Preferred Day to Call:
Preferred Time of Day:
On Saturdays we are only able to call in the morning due to branch opening times.

We will only use these details for the reasons requested.
 
Are you human? Please enter the text below into the box
captcha image
Click here to get a new image
Call Back
Close

Request a Call Back

Swoosh

Speak to one of our expert advisers on
01635 555777  or request a call back:

Name:
Phone:
Email:
Reason for Call Back: Existing Mortgage   New Mortgage  
Local Branch:
Preferred Day to Call:
Preferred Time of Day:
On Saturdays we are only able to call in the morning due to branch opening times.

We will only use these details for the reasons requested.
 
Are you human? Please enter the text below into the box
captcha image
Click here to get a new image
Call Back