| Interest Rate |
Standard Variable Rate |
Overall Cost For Comparison |
Max % Property Value |
Arrangement Fee |
Application Fee |
|
| Teacher Exclusive, 2 Year Variable Rate Mortgage 5% Deposit 3.69% Variable |
| 3.69% |
5.24% |
5.1% APRC |
95% |
N/A |
£99 |
|
Key Features
Variable rate
A variable rate, currently 3.69%, which is discounted by 1.55% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 5.1% APRC representative.
What you Pay
- Daily interest.
- An application fee of £99 (non-refundable) is payable with the application.
- A valuation fee is payable for all properties worth £800,000 or more.
Early repayment charge
An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.
What we Pay
- The first valuation fee for properties worth less than £800,000
- £100 cashback for NEU members upon completion.
Who can apply and more information
- Available for home purchase applications only.
- At least one applicant must be a qualified teacher or lecturer.
Your home may be repossessed if you do not keep up repayments on your mortgage
Representative Example
A mortgage of £157,000 over 29 years initially on a discounted variable rate of 3.69% (equal to a 1.55% discount off our SVR) for 2 years and then on our Standard Variable Rate of 5.24% for the remaining term, would require 24 monthly payments of £735.42 and 324 monthly payments of £869.75.
The total amount payable would be £299,689.92 made up of the loan amount plus interest (£142,480.92) with a funds transfer fee of £25, mortgage application fee of £99 and a mortgage exit fee of £85.
The overall cost for comparison is 5.1% APRC representative.
Call us today on 0800 378 669
This product may be withdrawn or amended at any time, without prior notice
|
| Teacher Exclusive, 5 Year Fixed Rate Mortgage 5% Deposit 4.64% Fixed |
| 4.64% |
5.24% |
5.1% APRC |
95% |
N/A |
£99 |
|
Key Features
Fixed rate
A fixed rate of 4.64% for the first 5 years (fixed until 14/06/2024). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 5.1% APRC.
What you Pay
- Daily interest.
- An application fee of £99 (non-refundable) is payable with the application.
- A valuation fee is payable for all properties worth £800,000 or more.
Early repayment charge
An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.
What we Pay
- The first valuation fee for properties worth less than £800,000.
- £100 cashback for NEU members upon completion.
Who can apply and more information
- Available for home purchase applications only.
- Available to teachers only.
Your home may be repossessed if you do not keep up repayments on your mortgage
Representative Example
A mortgage of £157,000 over 29 years initially on a fixed rate of 4.64% (ending on 14th June 2024) and then our Standard Variable Rate of 5.24% for the remaining term, would require 59 monthly payments of £821.54 and 289 monthly payments of £867.89.
The total amount payable would be £299,520.11 made up of the loan amount plus interest (£142,311.11) with an application fee of £99, a funds transfer fee of £25 and a mortgage exit fee of £85.
The overall cost for comparison is 5.1% APRC representative.
Call us today on 0800 378 669
This product may be withdrawn or amended at any time, without prior notice
|
| Teacher Exclusive, Shared Ownership, 2 Year Fixed Rate Mortgage 5% Deposit 3.84% Fixed |
| 3.84% |
5.24% |
5.1% APRC |
95% |
N/A |
£99 |
|
Key Features
Fixed rate
A fixed rate of 3.84% for the first 2 years (fixed until 14/10/2021). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 5.1% APRC.
What you Pay
Daily interest.
An application fee of £99 (non-refundable) is payable with the application.
A valuation fee is payable for all properties worth £800,000 or more.
Early repayment charge
An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.
What we Pay
- The first valuation fee for properties worth less than £800,000.
- For remortgage applications, we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.
- £100 cashback for NEU members upon completion.
Who can apply and more information
- Available for Shared Ownership home purchase and remortgage applications
- Available to teachers only.
Your home may be repossessed if you do not keep up repayments on your mortgage
Representative Example
A mortgage of £157,000 over 29 years initially on a fixed rate of 3.84% (ending on 14th October 2021) and then our Standard Variable Rate of 5.24% for the remaining term, would require 27 monthly payments of £748.69 and 321 monthly payments of £868.31.
The total amount payable would be £299,167.71 made up of the loan amount plus interest (£141,958.71) with a funds transfer fee of £25, mortgage application fee of £99 and a mortgage exit fee of £85.
The overall cost for comparison is 5.1% APRC representative.
Call us today on 0800 378 669
This product may be withdrawn or amended at any time, without prior notice
|
| Teacher Exclusive, Shared Ownership, 5 Year Fixed Rate Mortgage 5% Deposit 4.35% Fixed |
| 4.35% |
5.24% |
5.0% APRC |
95% |
N/A |
£99 |
|
Key Features
Fixed rate
A fixed rate of 4.35% for the first 5 years (fixed until 14/06/2024). It then changes to our Standard Variable Rate, which is currently 5.24%, and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 5.0% APRC.
What you Pay
- Daily interest.
- An application fee of £99 (non-refundable) is payable with the application.
- A valuation fee is payable for all properties worth £800,000 or more.
Early repayment charge
An Early Repayment Charge of 3% on the amount repaid will be applied for the duration of the product term. You can overpay by up to 10% of the loan outstanding per calendar year without charge.
What we Pay
- The first valuation fee for properties worth less than £800,000.
- For remortgage applications, we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.
- £100 cashback for NEU members upon completion.
Who can apply and more information
- Available for Shared Ownership home purchase and remortgage applications.
- Available to teachers only.
Your home may be repossessed if you do not keep up repayments on your mortgage
Representative Example
A mortgage of £157,000 over 29 years initially on a fixed rate of 4.35% (ending on 14th June 2024) and then our Standard Variable Rate of 5.24% for the remaining term, would require 59 monthly payments of £794.73 and 289 monthly payments of £864.30.
The total amount payable would be £296,899.55 made up of the loan amount plus interest (£139,690.55) with a funds transfer fee of £25, mortgage application fee of £99 and a mortgage exit fee of £85.
The overall cost for comparison is 5.0% APRC representative.
Call us today on 0800 378 669
This product may be withdrawn or amended at any time, without prior notice
|