Properties must be located in the following post code areas; AL, BA, BH, BN, BR, BS, CB, CM, CO, CR, CT, DA, DT, EN, EX, GL, GU, HA, HP, HR, IG, IP, KT, LU, ME, MK, NN, OX, PL, PO, RM, RG, RH, SG, SL, SM, SN, SP, SO, SS, TA, TN, TQ, TR, TW, UB, WD and WR. Products are available to those purchasing their residential home, on a shared ownership basis, subject to product terms. The mortgage term must be between 5 and 35 years. The mortgage must be on a capital and interest repayment basis. Minimum property value of £125,000.
£50,000 (Min) - £250,000 (Max)
Mortgage interest is charged on a daily basis.
Legal work is required when buying your home. The legal work is carried out by a solicitor and is 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.
- Free valuation
- Overpayments allowed
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 PDF for valuation and home buyer fees).
You need to be accepted by a Help to Buy agent for the Shared Ownership scheme.
Share of property
Your share of the property must be between 25% and 75% of the purchase price or valuation (the lower of the two). You can borrow up to 90% of your purchase share.
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.
House purchases must complete within three months of the date of the formal mortgage offer. After 3 months we cannot guarantee the availability of the fixed rate.
For new build properties the mortgage offer is valid for up to 6 months. The application must be able to complete in the product timescales. Therefore, the new build property must be completed and available for occupation within 6 months of the mortgage offer.
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.
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.