Teacher exclusive, 2 year variable rate remortgage - 20% deposit, 5.74% variable
Available for loans up to 80% of the purchase price or valuation of the property, whichever is lower.
PLEASE NOTE: YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
|Follow on rate||
Overall cost for
A variable rate, currently 5.74%, which is discounted by 3.05% from our Standard Variable Rate for the first 2 years. It then changes to our Standard Variable Rate, which is currently 8.79% and remains on our variable rate terms for the rest of the mortgage.
The overall cost for comparison is 8.5% APRC representative.
What you pay
- Daily interest.
- 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.
- 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.
- £100 cashback upon completion of your mortgage, if either or both applicants are NEU members.
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.