Abbey 2yr BBR + 3.04% Tracker R/M LTV 70% Direct Mortgage Features & Benefits
(currently displaying summary information only)| Feature / Benefit | Summary | Details | |||
|---|---|---|---|---|---|
| Application Criteria: | |||||
| Available in Branch Only |  | no | not just available in branch. | ||
| Existing Customers Only | | no | This mortgage is not just available to existing customers | ||
| Existing Borrowers Only | | no | This mortgage is not just available to existing borrowers. | ||
| Remortgage Only | | yes | Only available for remortgages. | ||
| First Time Buyers Only | | no | This mortgage is not just available to first time buyers. | ||
| Available Via a Broker Only | | no | Available direct. | ||
| Minimum Deposit | | 30% | 30% | ||
| Available Direct | | yes | This product is available direct from the provider. | ||
| Rates: | |||||
| Initial Rate APR | | 3.54% | 3.54% | ||
| Initial Rate End Date | | 24 months | 24 months | ||
| Initial Rate Type | | tracker | tracker | ||
| Final Rate | | 4.24% | The standard variable rate is 4.24% | ||
| Mortgage APR | | 4.2% | 4.2% | ||
| Minimum Rate | | 0.01% | The minimum rate payable is 0.01%. | ||
| Minimum Rate End Date | | term | The minimum rate is set for the term of the mortgage. | ||
| Frequency of Interest Calculations | | daily | Interest is calculated daily. Charged on a monthly basis | ||
| Tie-in Period After Rate | | 0 years | No tie-in period. | ||
| Suitability: | |||||
| Mortgage Type | | Standard | Standard | ||
| Repayment Mortgage | | yes | Yes. | ||
| Interest Only Mortgage | | yes | The maximum LTV for pure interest only without a repayment vehicle is 75%. | ||
| Endowment Mortgage | | yes | The maximum LTV for interest only with a repayment vehicle is 75% | ||
| Maximum LTV | | 70% | 70% | ||
| Maximum Loan | | £150,000 | Maximum loan of £150000 | ||
| Remortgage | | yes | This product is available to remortgages. | ||
| Remortgage Max LTV | | 70% | The maximum loan to value for remortgages is 70% LTV 70% to £150,000 | ||
| First Time Buyers | | no | This product is not available to first time buyers. | ||
| Existing Borrowers Moving Home | | no | This product is not available to existing borrowers moving home. | ||
| Existing Borrowers Not Moving Home | | no | This product is not available to existing borrowers who are not moving home. | ||
| Homemover | | no | This product is not available to home movers. | ||
| Shared Ownership | | yes | This product is available for shared ownership. | ||
| Shared Ownership Max LTV | | 70% | The maximum loan to value for shared ownership is 70% LTV 70% to £150,000 | ||
| Right to Buy | | no | This product is not available for right to buy. | ||
| Shared Equity | | no | This product is not available for shared equity schemes. | ||
| Restrictions: | |||||
| Maximum Term | | 35 years | 35 years. | ||
| Minimum Term | | 5 years | 5 years. | ||
| Incentives: | |||||
| Legal Fees Contribution | | yes | Remortgage Solution Free legal fee service , where Abbey will arrange and pay for the legal work involved in remortgaging | ||
| No Higher Lending Charge | | yes | No higher lending charge payable. | ||
| Facilities: | |||||
| Portable Mortgage | | yes | The product is portable. | ||
| Flexible Payments | | yes | Overpayments are available. | ||
| Overpayments Available | | yes | Up to and including 10% of the loan may be repaid each year without penalty. Minimum £500. | ||
| Payment Holiday | | no | Payment holidays are not available. | ||
| Fees & Charges: | |||||
| Application Fee £ | | varies | No booking fee is payable. £225 mortgage account fee payable upon completion or deferred until redemption. (The fee is fixed, does not incur interest,...expand | ||
| Application Fee Added to Loan | | no | The fee cannot be added to the loan. | ||
| Early Repayment Charge | | yes | There is an early redemption charge payable. | ||
| Early Repayment Charge Amount | | 2% + incentives | ERC - 2% of outstanding balance for 2 years + £200 for legals in conjunction with the Remortgage Solution package until 02/11/2011. | ||
| Early Repayment Charge Term | | 24 months | 24 months. | ||
