Important Notes
- Standard valuation only. Only available on one application per applicant. Maximum of £410 (property value up to £500,000).
- If you are looking to remortgage we will pay the legal fees if you use the Skipton Home Conveyencing Service. We also offer free valuations for all remortgages which are up to a property value of £500,000. Where the remortgage is over £500,000 some legal fees may apply and for properties valued at over £500,000 we will make a contribution of £535 towards the cost of valuation.
- Where no ERC applies or the ERC period has expired, interest to the end of the month of redemption is payable on redemption, and unlimited overpayments can be made.
- Fees payable at application or completion (whether paid up-front or added to the loan) are non-refundable.
- Please note, where separate interest rates apply for different Loan-to-Values (LTVs), a change in your valuation or loan required may mean you are ineligible for the rate you originally applied for. In this instance you will be advised of the change and asked if you still wish to proceed with your application.
- The 10% overpayment allowance is per annum and cannot be rolled over.
- Minimum Property Value £50,000
Description of abbreviations
ERC = Early Repayment Charge
A charge that you will incur if you pay off your loan in part or in full within a specified period.
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.
RSVR = Residential Standard Variable Rate
HLC = Higher Lending Charge
The Society bears the cost of any HLC for loans up to 90% LTV. For loans over 90%, the charge is calculated at 8.95% of the borrowing in excess of 75% LTV.