Shared Ownership 5 Year Fixed Rate Mortgage

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Good to know

Available for loans over £50,000

Available for remortgage and product switches

No completion fee and free standard valuation

We’ll accept Shared Ownership mortgage applications for properties in England and Wales from members of our partners otherwise lending restrictions apply

Fees

Based on a property worth
using our at max

The fees your client would have to pay are:

£{switch fee} product switch fee
which can be paid upfront or added to the loan (if added to the loan we'll charge interest on the fee during the term of the loan)

£{further advance completion fee} Further advance 'completion' fee
which can be paid upfront or added to the loan (if added to the loan we'll charge interest on the fee during the term of the loan)

A valuation isn't normally required for a product switch.

When borrowing additional funds you may require a revaluation if the value of your property has changed since you originally took your mortgage out. We will pay for a standard valuation.

£ for a standard valuation or £ for a standard valuation and homebuyer survey
For the purpose of the mortgage you'll only need to pay for a standard valuation. Valuation fees are payable at the time of application and are non-refundable.
We will pay for a standard valuation.

£ for a standard valuation or £ for a standard valuation and homebuyer survey
For the purpose of the mortgage you'll only need to pay for a standard valuation. Valuation fees are payable at the time of application and are non-refundable.
We will pay for a standard valuation.

Early repayment charges

These are the charges that will apply to your mortgage if you want to overpay or repay early.

Can I make overpayments?

While in your fixed rate term you can make overpayments of up to 10% of your mortgage balance during every 12 month period without having to pay an early repayment charge.

This 10% overpayment allowance is calculated using the balance of your mortgage at the time it completes. Each 12 month period starts on the anniversary of your mortgage completing.

If you choose a new mortgage deal with us at any point we’ll use this balance and date to calculate your overpayment allowance.

Any amount repaid over 10% of your mortgage completion date balance will incur an early repayment charge equal to:

  • 5% of the excess overpayment in year one
  • 4% of the excess overpayment in year two
  • 3% of the excess overpayment in year three
  • 2% of the excess overpayment in year four
  • 1% of the excess overpayment in year five

What if I want to repay early?

If you switch your loan to another lender, a different mortgage deal with us, or repay it in full before the end of the fixed rate term, you’ll have to pay an early repayment charge equal to:

  • 5% of the outstanding balance in year one
  • 4% of the outstanding balance in year two
  • 3% of the outstanding balance in year three
  • 2% of the outstanding balance in year four
  • 1% of the outstanding balance in year five

What if I want to move home?

If you move house during the fixed rate term you may transfer the balance and remaining term of the Fixed Rate Mortgage to your next home, without penalty. These requests will be subject to our underwriting criteria and the terms can't be extended to any further borrowing if the product has been withdrawn.

Next steps

DIP Decision

Current service

2 days

Mortgage Application

App received to reviewed

1 day

Mortgage illustration

Self serve online

Immediate

Other forms and documents you may need: