Fixed Rates

6.20% for 2 Years

6.40% for 2 Years

This option fixes the interest rate for a set period of time.

6.20% for 2 Years

FIXED RATE	PRODUCT TERM	APR	MAXIMUM LOAN TO VALUE	EARLY REPAYMENT CHARGE PERIOD	EARLY REPAYMENT CHARGES
6.20%	2 Years	7.4%	95%	2 Years	3% of total amount advanced

Maximum Term:

30 Years.

SVR:

The Society's standard variable interest rate is currently 7.29%.

Interest
Calculation Method

Daily Interest.

APR:

The overall cost for comparison is 7.4% APR.

Early Repayment Charges:

An early repayment charge equivalent to 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 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%.

Arrangement Fee:

No arrangement fee is payable.

Application Fee:

A fee of £495 is payable upon application. £300 of this 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 will be deducted from the advance amount in respect of this fee.

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.

6.40% for 2 Years

FIXED RATE

PRODUCT TERM

APR

MAXIMUM LOAN TO VALUE

EARLY REPAYMENT CHARGE PERIOD

EARLY REPAYMENT CHARGES

6.40%

2 Years

7.4%

95%

2 Years

3% of total amount advanced