- New savings rates from 1 July 2022
Teacher exclusive, 2 year fixed rate mortgage
Please note for Help to Buy applications: the monthly payment quoted for this mortgage does not include repayments towards the equity loan.
PLEASE NOTE: YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Overall cost for
Fixed rateA fixed rate of 3.69% for the first 2 years (fixed until 14/02/2025). It then changes to our Standard Variable Rate, which is currently 5.29% and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 5.0% 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 chargeAn 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.
A mortgage of £204,590.00 over 30 years initially on a fixed rate of 3.69% (ending on 14 February 2025) and then our Standard Variable Rate currently 5.29% for the remaining term, would require 34 monthly payments of £940.54 and 326 monthly payments of £1,117.52.
The total amount payable would be £396,619.62 made up of the loan amount plus interest (£191,720.62) 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 5.0% APRC representative.
Please note: Mortgages are secured on your home. You could lose your home if you do not keep up payments on your mortgage. Terms and conditions apply. Mortgages are subject to underwriting and criteria. Please contact us for full details.