Properties must be located in the following postcode 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 remortgaging 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. Properties where the valuation is less than £125,000 must be referred to our Customer Service department for initial approval.
Also available for existing borrowers to transfer their existing mortgage into, subject to payment of any ERCs that apply on their current mortgage and for existing borrowers moving house.
£50,000 (Min) - £300,000 (Max)
Mortgage interest is charged on a daily basis.
Legal work is required when remortgaging your home. This 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
- No arrangement or booking fee
- No Early Repayment Charge
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 page 6 of our Mortgages explained PDF for valuation and home buyer fees).
If an existing borrower who is not moving house would like a revaluation carried out to assess which LTV tier they qualify for they will be required to pay a revaluation fee (see our Mortgages explained booklet for details).
Application fees can be added to the mortgage and are refundable if the mortgage does not take place. If you add the application fee to your mortgage, this increases the amount you borrow and will also increase your monthly payments.
A Mortgage Exit Administration Fee (MEAF) applies when you repay your mortgage. Please see our Tariff of charges PDF and your Key Facts Illustration (KFI) for details.
Share of property
Your share of the property must be between 25% and 75% of the valuation. You can borrow up to 90% of your share.
Remortgages must complete within three months from the date the application is received.
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 Mortgage Exit Administration Fee (MEAF) applies when you repay your mortgage. Please see our Tariff of charges PDF and your Key Facts Illustration (KFI) for details. 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.
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