Standard Life Bank Flex 5yr 6.40% Fxd R/M LTV 75% Freestyle Low Rate Mortgage Features & Benefits
(currently displaying summary information only)| Feature / Benefit | Summary | Details | |||
|---|---|---|---|---|---|
| Application Criteria: | |||||
| 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 | | 25% | 25% | ||
| Available Direct | | yes | This product is available direct from the provider. | ||
| Rates: | |||||
| Initial Rate APR | | 6.40% | 6.40% | ||
| Initial Rate End Date | | 31 Dec 2014 | 30 Sep 2014 | ||
| Final Rate | | 5.34% | The standard variable rate is 5.34% | ||
| Mortgage APR | | 6% | 6.0% | ||
| Fixed Rate End Date | | 31 Dec 2014 | Fixed rate term until 31/12/2014 | ||
| Fixed Rate Term | | 60 months | 60 months. | ||
| Frequency of Interest Calculations | | daily | Interest is calculated daily | ||
| Tie-in Period After Rate | | 0 years | No tie-in period | ||
| Suitability: | |||||
| Mortgage Type | | Fixed Rate | Fixed Rate | ||
| Repayment Mortgage | | yes | Yes | ||
| Interest Only Mortgage | | yes | Yes | ||
| Endowment Mortgage | | yes | Yes | ||
| Maximum LTV | | 75% | The maximum LTV is 75% | ||
| Maximum Loan | | £500,000 | The maximum loan is £500000 | ||
| Remortgage | | yes | This product is available for Remortgages | ||
| Remortgage Max LTV | | 75% | The maximum loan to value remortgage 75% LTV 75% to £500,000 | ||
| 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 not moving home | ||
| Homemover | | no | This product is not available to Homemovers | ||
| Shared Ownership | | no | Not available for shared ownership schemes | ||
| Shared Equity | | no | This product is not available for shared Equity. | ||
| Restrictions: | |||||
| Maximum Term | | 40 years | 40 years | ||
| Minimum Term | | 3 years | 3 years | ||
| Incentives: | |||||
| Legal Fees Contribution | | yes | Free legals through nominated solicitor or £250 contribution towards costs. | ||
| No Higher Lending Charge | | yes | There is no higher lending charge. | ||
| Facilities: | |||||
| Portable Mortgage | | yes | This product is portable | ||
| Flexible Payments | | yes | There are flexible options available | ||
| Overpayments Available | | restricted | 10% overpayment allowed each year during the fixed rate period. Unlimited overpayments are allowed penalty free after the end of the fixed rate period. | ||
| Payment Holiday | | yes | When 6 months consecutive payments have been made, two payment holidays can be taken in any one year, subject to available reserve and ability to repay. | ||
| Fees & Charges: | |||||
| Application Fee £ | | varies | There is a booking fee of £1,299 payable. £99 fee payable option to choose cash reserve on application. | ||
| Application Fee Added to Loan | | yes | The booking fees can be added to the loan. | ||
| Early Repayment Charge | | yes | There is an early redemption charge payable. | ||
| Early Repayment Charge Amount | | 7/7/6/6/5 months | ERC - 7 months gross interest at the fixed rate on the amount redeemed in the first two years, 6 months in years 3 and 4, 5 months in year 5 until 31/12/2014. | ||
