Interest Rate |
Standard Variable Rate |
Overall Cost For Comparison |
Maximum LTV |
Arrangement Fee |
Application Fee |
|
Teacher Exclusive, 2 Year Variable Rate Mortgage 5% Deposit 3.29% Variable |
|
3.29% |
5.29% |
5.1% APRC |
95% |
N/A |
N/A |
|
Key Features
Variable rate
A variable rate, currently 3.29%, which is discounted by 2.00% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is 5.29% 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.
- 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 upon completion of your mortgage, if either or both applicants are NEU members.
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 £204,590.00 over 30 years initially on a discounted variable rate of 3.29% (equal to a 2.00% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £894.89 and 336 monthly payments of £1120.83.
The total amount payable would be £398,204.73 made up of the loan amount plus interest (£193,504.73) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00.
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This product may be withdrawn or amended at any time, without prior notice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 3.99% Fixed |
|
3.99% |
5.29% |
4.9% APRC |
95% |
N/A |
£199 |
|
Key Features
Fixed rate
A fixed rate of 3.99% for the first 5 years (fixed until 14/05/2027). It then changes to our Standard Variable Rate, which is 5.29% and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 4.9% APRC.
What you Pay
- Daily interest.
- An application fee of £199 (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 upon completion of your mortgage, if either or both applicants are NEU members.
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 £204,590.00 over 30 years initially on a fixed rate of 3.99% (Ending on 14 May 2027) and then our Standard Variable Rate of 5.29% for the remaining term, would require 61 monthly payments of £975.56 and 299 monthly payments of £1109.52.
The total amount payable would be £391,587.08 made up of the loan amount plus interest (£186,688.08) with a Application Fee of £199.00, Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00.
The overall cost for comparison is 4.9% 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 Variable Rate Mortgage 5% Deposit 3.90% Variable |
|
3.90% |
5.29% |
5.2% APRC |
95% |
N/A |
N/A |
|
Key Features
Variable rate
A variable rate, currently 3.90%, which is discounted by 1.39% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 5.2% APRC representative.
What you Pay
Daily interest.
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 upon completion of your mortgage, if either or both applicants are NEU members.
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 £204,590.00 over 30 years initially on a discounted variable rate of 3.90% (equal to a 1.39% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £964.99 and 336 monthly payments of £1125.28.
The total amount payable would be £401,385.77 made up of the loan amount plus interest (£196,685.77) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00.
The overall cost for comparison is 5.2% 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 Variable Rate Remortgage 5% Deposit 3.90% Variable |
|
3.90% |
5.29% |
5.2% APRC |
95% |
N/A |
N/A |
|
Key Features
Variable rate
A variable rate, currently 3.90%, which is discounted by 1.39% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 5.29%, and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 5.2% APRC representative.
What you Pay
- Daily interest.
- 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 upon completion of your mortgage, if either or both applicants are NEU members.
- For remortgage applications, legal fees will be paid when using our appointed solicitor. For non-standard remortgages (i.e. shared ownership, transfer of equity, unencumbered property), we will pay £250 towards the legal costs and this will be sent directly to your solicitor on completion of the mortgage.
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 £204,590.00 over 30 years initially on a discounted variable rate of 3.90% (equal to a 1.39% discount off our SVR) for 2 years and then our Standard Variable Rate of 5.29% for the remaining term, would require 24 monthly payments of £964.99 and 336 monthly payments of £1125.28.
The total amount payable would be £401,385.77 made up of the loan amount plus interest (£196,685.77) with a Funds Transfer Fee of £25.00 and a Mortgage Exit Fee of £85.00.
The overall cost for comparison is 5.2% APRC representative.
Call us today on 0800 378 669
This product may be withdrawn or amended at any time, without prior notice
|