| Interest Rate |
Standard Variable Rate |
Overall Cost For Comparison |
Maximum LTV |
Arrangement Fee |
Application Fee |
|
| Teacher Exclusive, Shared Ownership, 2 Year Fixed Rate Mortgage (subject to availability) 5% Deposit 4.44% Fixed |
|
| 4.44% |
4.89% |
4.9% APRC |
95% |
N/A |
£199 |
|
Key Features
Fixed rate
A fixed rate of 4.44% for the first 2 years (fixed until 14/10/2023). It then changes to our Standard Variable Rate, which is currently 4.89%, 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 Shared Ownership 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 £197,194.00 over 29 years initially on a fixed rate of 4.44% (Ending on 14 October 2023) and then our Standard Variable Rate of 4.89% for the remaining term, would require 28 monthly payments of £1008.58 and 320 monthly payments of £1055.49.
The total amount payable would be £366,330.12 made up of the loan amount plus interest (£168,827.12) 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This product may be withdrawn or amended at any time, without prior notice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 Fixed Rate Remortgage (subject to availability) 5% Deposit 4.44% Fixed |
|
| 4.44% |
4.89% |
4.9% APRC |
95% |
N/A |
£199 |
|
Key Features
Fixed rate
A fixed rate of 4.44% for the first 2 years (fixed until 14/10/2023). It then changes to our Standard Variable Rate, which is currently 4.89%, 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.
- 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 £197,194.00 over 29 years initially on a fixed rate of 4.44% (Ending on 14 October 2023) and then our Standard Variable Rate of 4.89% for the remaining term, would require 28 monthly payments of £1008.58 and 320 monthly payments of £1055.49.
The total amount payable would be £366,330.12 made up of the loan amount plus interest (£168,827.12) 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, 5 Year Fixed Rate Mortgage (subject to availability) 5% Deposit 4.49% Fixed |
|
| 4.49% |
4.89% |
4.8% APRC |
95% |
N/A |
£199 |
|
Key Features
Fixed rate
A fixed rate of 4.49% for the first 5 years (fixed until 14/05/2026). It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 4.8% 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 Shared Ownership 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 £197,194.00 over 29 years initially on a fixed rate of 4.49% (Ending on 14 May 2026) and then our Standard Variable Rate of 4.89% for the remaining term, would require 59 monthly payments of £1014.37 and 289 monthly payments of £1051.57.
The total amount payable would be £364,084.91 made up of the loan amount plus interest (£166,581.91) 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 4.8% 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 Remortgage (subject to availability) 5% Deposit 4.49% Fixed |
|
| 4.49% |
4.89% |
4.8% APRC |
95% |
N/A |
£199 |
|
Key Features
Fixed rate
A fixed rate of 4.49% for the first 5 years (fixed until 14/05/2026). It then changes to our Standard Variable Rate, which is currently 4.89%, and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 4.8% 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.
- 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 £197,194.00 over 29 years initially on a fixed rate of 4.49% (Ending on 14 May 2026) and then our Standard Variable Rate of 4.89% for the remaining term, would require 59 monthly payments of £1014.37 and 289 monthly payments of £1051.57.
The total amount payable would be £364,084.91 made up of the loan amount plus interest (£166,581.91) 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 4.8% APRC representative.
Call us today on 0800 378 669
This product may be withdrawn or amended at any time, without prior notice
|