Two Year Fixed Rate

2 year 4.99% fixed rate followed by the Society's standard variable interest rate (SVR) for the remaining term.

RATE	PRODUCT TERM	APR	MAXIMUM LOAN TO VALUE	EARLY REPAYMENT CHARGE PERIOD	EARLY REPAYMENT CHARGE
4.99%	Two years	6.1%	85%	Two years	3% of advance

Mortgage Product Name:

2 year 4.99% fixed rate followed by the Society's standard variable interest rate (SVR) for the remaining term.

Maximum Term:

30 years.

Maximum Advance Amount:

£300,000.

Standard Variable Rate:

The Society’s standard variable interest rate is currently 5.99%.

Interest
Calculation Method:

Daily Interest.

APR:

The overall cost for comparison is 6.1% APR.

Early Repayment Charges:

An early repayment charge equivalent of 3% of the total amount advanced under the special scheme is payable if the loan is repaid in full within the first 2 years.

Overpayments:

Early repayment charges will apply to any lump sum payment made during the first 2 years that is equal to or in excess of six monthly payments. An amount equal to 3% of the amount repaid will be charged. Interest is calculated on a daily basis therefore the amount on which interest is charged is reduced immediately if you make overpayments.

Loan to Value:

The mortgage is available up to a maximum of 85% of the purchase price/value (whichever the lower). This includes any fees that have been added to the loan

Insurance:

You are not required to buy any insurance through Shepshed Building Society but as a condition of the mortgage you will be required to insure the property on an index linked basis for an amount not less than the reinstatement value required by the Society’s valuer. A £25 charge is payable at the start of the mortgage if you do not take out your buildings insurance with Shepshed Building Society.

Application Fee:

A fee of £450 is payable upon application. £300 of this fee is refundable if you do not proceed with the application.

Valuation Fee:

The cost of a valuation for mortgage purposes must be provided on application. Please see our scale of fees. This fee is refundable if you do not proceed with the application and the valuation has not been undertaken.

Availability:

This mortgage product is only available for direct applicants purchasing or remortgaging residential property for their own use, in England and Wales. It is not available for properties in London (within the M25 boundary).
Applicants applying for this product will be required to fully meet the Society’s lending criteria.

CHAPS Fee:

On completion, the advance will be released to the solicitor acting in the transaction by CHAPS (Clearing House Automated Payment Service).

All mortgage products are available to applicants who are either 18 years or older.

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

Shepshed Building Society, Bull Ring, Shepshed, Leics, LE12 9QD is authorised and regulated by the Financial Services Authority. Our Financial Services Authority registration number is 206067. You can check this on the FSA's register by visiting the FSA's website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.