Discounted Rate

During the course of the mortgage, the interest rate can vary by going up or down but the discount will always be 0.5% below the Society's standard variable interest rate which is currently 7.04%.

0.5% below the Society's standard variable rate for the term of the mortgage

RATE	PRODUCT TERM	APR	MAXIMUM LOAN TO VALUE	EARLY REPAYMENT CHARGE PERIOD	EARLY REPAYMENT CHARGE
6.54%	Term of Mortgage	6.9%	95%	NONE	NONE

Mortgage Product Name:

Term discount: 0.5% below the standard variable rate for the term

Maximum Term:

30 Years.

Standard Variable Rate:

The Society's standard variable interest rate is currently 7.04%.

Interest
Calculation Method:

Daily Interest

Interest Rate:

Minimum interest charged will be 1%.

APR:

The overall cost for comparison is 6.9% APR.

Early Repayment Charges:

You can repay this mortgage early without incurring any early repayment charges.

Overpayments:

You can make overpayments.

Loan to Value:

The mortgage is available up to a maximum of 95% of the purchase price/value (whichever the lower). This excludes 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.

Higher Lending Charge:

If the amount of the mortgage is over 90% of the purchase price/value of the property, the Society may purchase additional security in the form of indemnity insurance. The Key Facts Illustration provided to you prior to application will state the amount of the charge. You may ask to have the charge added to the mortgage providing the loan to value does not exceed 97.5%.

Application Fee:

A fee of £999 is payable upon application. £849 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 product is for purchase or remortgage of existing residential property for the applicant(s) own use. 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). A fee of £30 is payable but this can be added to the loan if you wish.

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.