Flex Mortgage

Our Flex Mortgage is a variable rate, which tracks the Bank of England. Base rate for the life of the mortgage. It also offers unlimited overpayments without penalty.

Available on a maximum LTV of 85%

Make unscheduled partial loan repayments without any penalty charges *

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Mortgage Tariff

LTV	<70%	>80%	>85%
LTV	2.00% + base	2.10% + base	2.25% + base

Arrangement fee 0.25% minimum £500. Max term of 35 years only available on a serial repayment basis. Amortised 30 years. Valuation and legal fees apply.

Mortgage Type Example

	Example 1	Example 2
Mortgage type	Capital and interest (Serial loan)	Capital and interest (Amortising loan)
Max. loan to value	85%	85%
Amount borrowed	£250,000	£250,000
Term	25 Years	25 Years
No. of Monthly instalments	300	300
Other costs - Arrangement fee - Valuation fee - Legal fee	. £999 £570 £1,250	. £999 £570 £1,250
Borrowing rate	2.10% (plus Base Rate)	2.10% (plus Base Rate)
APRC	7.4%	7.3%
Initial payment	£1,512.90	£1,743.10
Total interest payable	£221,721.09	£279,875.00
Total amount repayable	£471,721.09	£529,875.00
Security required	Property	Property

To Consider

In addition to the costs (Mortgage type examples), you will also be responsible for the Bank's legal costs, which will depend on the mortgage amount. A written estimate of the Bank's legal costs will be made available to you upon request and when your loan application is agreed. You should also bear in mind that you will have your own legal costs and expenses (e.g. taxes) to meet in respect of your purchase of the property. You may also have the opportunity of using the same law firm as the Bank and they may be able to offer you a discounted price. Please contact us for more information.

Suitable property insurance will be a condition of the mortgage, but is not arranged by the Bank and is your sole responsibility. Whilst we do not usually make life insurance a condition of the mortgage, you should consider if you would like to arrange cover to repay the loan in the event of death or loss of income from illness. There are various types of life cover available, but this is not arranged by the Bank and you should take your own independent advice.

Please note overall rate subject to change in line with Bank of England Base Rate.

Are you eligible?

In order to find out if you are eligible for the Flex Mortgage we will assess your income and expenditure, assets and liabilities. This will help us determine the level of borrowing you will be eligible for.

There is no minimum loan amount for the Flex Mortgage, however the interest rate will vary depending on how much you borrow.

Your home may be repossessed if you do not keep up the repayments on your mortgage.