FAQs - Savings and Mortgages
The APRC is the Annual Percentage Rate of Charge and is the overall cost of the mortgage including interest and fees. It gives an effective annual interest rate for the whole term of the mortgage and is on the basis that the rates do not change even if the rate is described as variable.
Yes. Overpayments of up to 10% of the balance outstanding can be made each year, starting from the date of original mortgage completion, or the start date of your latest interest rate deal using the balance outstanding, without incurring an early repayment charge.
If you do make an overpayment, then the amount you owe and the interest you are charged will reduce from the date the overpayment is credited to your account.
Overpayments of more than 10% of the balance outstanding, or full mortgage repayment, will incur the Early Repayment Charge.
The minimum overpayment/capital payment is £500. Please ensure you state clearly that this is a capital payment to ensure it is recorded on your account.
This depends on what type of mortgage product you have. Most products do have an Early Repayment Charge during the initial incentive period (e.g. fixed or discounted period). If you wish to check if your mortgage has an Early Repayment Charge, contact our Support Team on 0800 0294 997.
We post annual mortgage statements in January each year, which cover the period from January to December of the previous year. It will show you the balance of the mortgage, payments and interest charges and any fees accrued over the year.
Yes. Please complete and return this Direct Debit form along with a recent bank statement for the account you wish us to collect your mortgage payment from.