LIBOR Linked Products

 

LIBOR LINKED LOANS UP TO 70% LTV

Pay rate(s)

For the term of the mortgage, 3-month LIBOR (5.76% at last reset) plus loading between 1.25% and 3.00%

7.01%

To

8.76%

The overall cost for comparison is
(see note 6)

The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

9.2% APR

Overpayments allowed up to 10% of original loan each year without ERC (over 10% ERC applies)

Unlimited overpayments

Early repayment charge (ERC)

None

Application fees

Dependent upon loan amount

Maximum LTV

Up to 70%

Notes
  • LIBOR rate was last reset on 1 September 2008 and will be reviewed on 1 December 2008.
  • Where no ERC applies or the ERC period has expired unlimited overpayments can be made. On redemption, interest to the end of the month of redemption is payable.

Important Notes:

  1. The minimum loan is £25,001. The maximum is £3 million for commercial trading properties, £3 million for good quality commercial investment properties. The minimum additional borrowing amount is £25,001.
  2. The minimum term is five years, the maximum is 25 years (or age 75 unless a limited company)
  3. Limited Companies - Directors' personal guarantees and mortgage debentures are normally required.
  4. You may apply for up to 50% of the value of the property on an interest only basis. If any part of the loan is on an interest only basis that part will not reduce during the mortgage term and it is your responsibility to ensure that you have sufficient funds to repay the mortgage at the end of the term.
  5. See the 'submission' section for details of valuation and legal fees.
  6. On the LIBOR linked and fixed rate products the overall cost for comparison is based on the highest interest charge and fees applicable to that product.

LTV = Loan to Value. The amount of a mortgage loan expressed as a percentage of the value of the property against which the loan will be secured.

LIBOR = This is the London Inter Bank Offered Rate.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.