PLEASE BE AWARE OUR MORTGAGE PRODUCTS CAN BE WITHDRAWN AT SHORT NOTICE.
Additional Borrowing is available to existing Skipton mortgage customers and allows you to increase your mortgage borrowing to pay for home improvements and other items subject to lending policy.
| |
Additional Borrowing
FOR HOME IMPROVEMENTS ONLY
(see note 3) |
Additional Borrowing
FOR OTHER REASONS
(see note 4) |
| Pay rate(s) |
Bank of England Base Rate + 4.45% for the term of the mortgage |
4.95% |
Bank of England Base Rate + 5.95% for the term of the mortgage |
6.45% |
| The overall cost for comparison is |
|
5.3% APR |
|
6.9% APR |
| Early Repayment Charge (ERC)(see note 1). |
None |
None |
| Cashback |
No |
No |
| Overpayments allowed up to 10% of original loan each year without ERC (over 10% ERC applies) |
No restrictions |
No restrictions |
| Completion fee (see note 2) |
£299 |
£299 |
| Maximum LTV |
Your Additional Borrowing plus your existing mortgage balance must not exceed 85% of the value of your property |
Your Additional Borrowing plus your existing mortgage balance must not exceed 75% of the value of your property |
| Notes |
This product is used for porting when purchasing a new property. This products is used for Transfer Subject to Mortgage when adding or removing someone from existing mortgage and raising additional funds |
Existing Skipton borrowers only. This product is portable |
View Important Notes description of abbreviations