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Shared Ownership, 3 Year Fixed Rate Mortgage

Available for loans up to 90% of the share being purchased through a Shared Ownership scheme. The minimum share of the property is 25%.

Please note: the monthly payment quoted for this mortgage does not include repayments to the housing association.
4.39% 5.24% 5.1% APRC 90%

Key Features

Fixed rate

A fixed rate of ​​4.39% for the first ​3 years (fixed until 14/​​1​1/2021). 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 home purchase and remortgage applications.

Representative Example:

A mortgage of £157,000 over 29 years initially on a fixed rate of 4.39% (ending on 14th November 2021) and then our Standard Variable Rate of 5.24% for the remaining term, would require 37 monthly payments of £798.40 and 311 monthly payments of £869.36.

The total amount payable would be £300,257.21 made up of the loan amount plus interest (£142,930.71) with a funds transfer fee of £25, mortgage application fee of £99, legal fees of £117.50 and a mortgage exit fee of £85.

The overall cost for comparison is 5.1% APRC representative.

Your home may be repossessed if you do not keep up repayments on your mortgage

This information does not contain all of the details you need to choose a mortgage. Make sure that you read the separate Key Facts Illustration before you make a decision. For full details, please call our friendly team on 0800 378 669.

Product Reference: 349

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