95% Mortgages (Earning over £35,000)


If one applicant is earning over £35,000, has a clear credit history and is able to demonstrate that they can afford the monthly repayments they could be eligible for the rates seen below:

A 95% loan to value (LTV) mortgage allows your client to borrow up to 95% of the property value or the purchase price, whichever is lower - this means that they only need to contribute a minimum 5% deposit.

95% mortgages are only available on our residential product range if your client is purchasing a property with a loan size of up to £500,000. The maximum amount we will lend will depend on your client's individual financial situation and other circumstances.

Product Name

The overall cost for
comparison is:

Rate structure based on our Standard
Variable Rate

Availability

Flexibility

Fees

Early Repayment Charges

3 year Residential
2.35% Discount

RDD066

5.1% APRC

3.09% variable for 3 years followed by Standard Variable
Rate (SVR), currently
5.44%.

Purchase
up to 95% Loan To Value (LTV). Minimum deposit of 5% required.

Overpayments up to 20% of the capital balance as at 1st January are allowed in each calendar year without penalty.
Portable.

  • Product Fee 0.4% of  advance (Minimum £599)

  • Administration Fee £125

  • Valuation Fee (scale)

  • Completion Fee £75.

3% in years 1 & 2, 2% in year 3, plus a Closing Administration Fee (currently £100).

 

3 year Residential
3.30% Fixed

RDF012

 

5.2% APRC

3.30% fixed for 3 years followed by Standard Variable
Rate (SVR), currently
5.44%.

 

Purchase
up to 95% Loan To Value (LTV). Minimum deposit of 5% required.

 

Overpayments up to 20% of the capital balance as at 1st January are allowed in each calendar year without penalty.
Portable.

 

  • Product Fee 0.4% of  advance (Minimum £599)

  • Administration Fee £125

  • Valuation Fee (scale)

  • Completion Fee £75.

3% in years 1 & 2, 2% in year 3, plus a Closing Administration Fee (currently £100).

5 year Residential
3.49% Fixed

RDF013

 

4.9% APRC

3.49% fixed for 5 years followed by Standard Variable
Rate (SVR), currently
5.44%.

 

Purchase
up to 95% Loan To Value (LTV). Minimum deposit of 5% required.

 

Overpayments up to 20% of the capital balance as at 1st January are allowed in each calendar year without penalty.
Portable.

 

  • Product Fee 0.4% of  advance (Minimum £599)

  • Administration Fee £125

  • Valuation Fee (scale)

  • Completion Fee £75.

3% in years 1, 2, 3, 4, &  2% in year 5, plus a Closing Administration Fee (currently £100).

An example: A mortgage of £241,000 taken out for a period of 34 years on a repayment basis.

Monthly instalments: £956.35 per month for 35 months, followed by £1,277.46 per month for 372 months.

Total amount payable: £510,441.37

Total amount of credit: £241,000

The total amount payable includes product fee £964, valuation fee £340, administration fee £125, closing fee £100 and completion fee £75.

The example relates to Product Code RDD066, is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your client's own particular requirements.

If you wish to go back to the criteria page click here or if you have any further questions please contact our Sales team on 01225 475702.