Residential Mortgage Contract - Base Rate Tracker
In a nutshell:
A Lifetime Tracker mortgage available in Sterling linked to Bank of Scotland Base Rate (BBR) which tracks the Bank of England Base Rate.
Suitable for:
Any one of the following categories wishing to purchase or remortgage a UK residential property for their own use or occupation by their immediate family or indeed wishing to release equity in their property for any legitimate purpose:
-
UK resident but non UK domiciled
-
UK resident but deemed Not Ordinarily Resident for UK tax purposes
-
Non UK resident (either a UK expatriate or a foreign national of another country)
Key features:
- Minimum loan of £250,000.
- Borrow up to 80% of the professional valuation of the property or purchase price, whichever is lower.
- New Build properties, however, will be restricted to a maximum 75% of the professional valuation of the property or the purchase price, whichever is the lower.
- Option to repay your mortgage early.
- Choice of interest only or repayment options.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Regulated Mortgage Contract
| Amount | Maximum LTV | Interest Rate | Indicative APR | Arrangement fee |
|---|---|---|---|---|
| £2,000,000 plus | 80% | Contact us | Contact us | Contact us |
| £250,000 to 2,000,000 | 80% | BBR+1.20% | 6.4% | 0.5% |
Bank of Scotland Base Rate (BBR) is currently 5.00%* (correct at 4th July 2008)
An Early Repayment Charge equivalent to 3% of the outstanding balance will apply if the mortgage is repaid within the first year + £150 administration fee. Thereafter, a £150 administration fee will apply.
Please contact us if the Mortgage amount exceeds £2,000,000 or the Loan to Value ('LTV') is below 70% as preferential pricing may be available.
Rates and fees quoted are correct at 4th July 2008. Terms and conditions apply. The actual rate available will depend upon your circumstances. Please ask for a personalised illustration.
Call +44 (0)1624 644080 for more information.
