Shared Ownership fixed rate until 29 January 2030 95% LTV

Key Features

Mortgage type 

• A fixed rate mortgage has an interest rate that stays the same for a set period of time. During the fixed rate period your monthly repayments stay the same. At the end of the fixed rate period the interest rate will change, usually to the lender's standard variable rate (SVR).

Interest rates 

• 4.99% fixed until 29 January 2030 changing to our Standard Variable Rate (SVR) for the remainder of the mortgage, currently 6.75%.

Maximum loan to value 

• 95 %

Fees 

• Mortgage Exit Administration Fee (MEAF): £100

Features 

• No arrangement or booking fee
• Overpayments allowed
• Free valuation

Loan size 

• Minimum loan size £40,000. Max loan size (purchase) Up to 85% share to value = £400k Up to 90% share to value = £350k Up to 95% share to value = £300k Max loan size (remortgage) Up to 80% share to value = £400k Up to 95% share to value = £300k

Early repayment charge (ERC) 

• The Early Repayment Charge (ERC) period applies from the date of completion.
• For this product the ERC period is until 29 January 2030.
• ERC is 5% to 29 January 2026, 4% to 29 January 2027, 3% to 29 January 2029, 2% to 29 January 2030 of the original loan amount (or the balance outstanding on the date an existing mortgage is transferred to this product).
• During the ERC period you are permitted to make overpayments up to 10% of the original loan amount (or the balance outstanding on the date an existing mortgage is transferred to this product) per year. If overpayments exceed 10% in a year during the ERC period, you will have to pay the relevant ERC percentage rate on the amount of overpayment exceeding the permitted level.
• The full ERC is payable on the original loan amount (or the balance outstanding on the date an existing mortgage is transferred to this product) if you repay your mortgage in full during the ERC period. The ERC will also be levied on previously permitted overpayments.

Eligibility 

• The mortgage term must be between 5 and 40 years.
• Products are available to those purchasing or remortgaging their residential home, on shared ownership basis, subject to product terms.
• The mortgage must be on a capital and interest repayment basis.
• Also available for existing borrowers to transfer their existing mortgage into, subject to payment of any ERC's that apply on their current mortgage and for existing borrowers moving house.
• The property must be located in England or Wales. All properties in the following London postcodes are restricted to 60% loan to value: E, EC, N, NW, SE, SW, W, WC. Flats in the following London postcodes are restricted to 60% loan to value CR, EN HA, IG, KT, RM, SM, TW UB.
• Minimum property value of £150,000