Important Notes:
- Where no ERC applies or the ERC period has expired, interest to the end of the month of redemption is payable on redemption, and unlimited overpayments can be made.
- Fees payable at application or completion (whether paid-up front or added to the loan) are non-refundable.
- For home improvements, the maximum mortgage term for additional borrowing will be the same as the remaining term on the primary mortgage.
Description of abbreviations
ERC = Early Repayment Charge
A charge that you will incur if you pay off your loan in part or in full within a specified period.
LTV = Loan-to-Value
The amount of a mortgage loan expressed as a percentage of the value of the property against which the loan will be secured.
RSVR = Residential Standard Variable Rate
BoEBR = Bank of England Base Rate
HLC = Higher Lending Charge
The Society bears the cost of any HLC for loans up to 90% LTV. For loans over 90%, the charge is calculated at 8.95% for the borrowing in excess of 75% LTV.