6.99% Fixed to 31/05/2011

6.99% Fixed to 31/05/2011

Upto £350,000 95% LTV (Rmg 95%)

Upto £500,000 90% LTV (Rmg 90%)

Upto £750,000 85% LTV (Rmg 85%)

Upto £850,000 80% LTV (Rmg 80%)

Upto £1,000,000 75% LTV (Rmg 75%)

Mortgage is Portable

If the applicant moves house the applicant can transfer the rate, terms and conditions of the remaining balance of this mortgage to the applicants new property. Conditions apply - please see Bristol & West's 'Porting Your Mortgage Rate' leaflet.

No extended tie in.

First Start is designed to allow, principally, parents help their offspring onto the property ladder. It does so by using the income of the main earning sponsor (usually a parent/stepparent who must be under 60 at outset) and one other borrower (often the child) who will live in the property. It is similar in concept to a guarantor mortgage, but instead of being a guarantor the sponsor becomes a joint borrower and is joint and severally liable. The sponsor may become a joint borrower only, or a joint borrower and joint owner. For joint borrower only cases the sponsor must obtain independent legal advice before applying.

Please note our First Start product is a joint mortgage between a parent (sponsor) and child. Not available to sole applicants. Our normal application form should be used.

Income is assessed using usual salary multiples and deductions with the sponsor being the 1st applicant. Any existing residential mortgage will be assessed as an outgoing on an interest only basis at bank base plus 1.5% and deducted from the income before the multiplier is applied.

Other sponsors may be considered on merit.

For mortgages exceeding 95% the sponsor must have held a mortgage for the last 3 years or own the property unencumbered.

3 months free MPPI available subject to conditions.

Not available to students

Product is not CAT standard.

Free valuation.

Overpayments are permitted on this mortgage. A lump sum overpayment can only be made by cheque and is any amount that you pay to us in addition to the monthly payment due. When we receive a lump sum overpayment, we recalculate the amount you owe and the amount of interest you pay with effect from the following day. This means you get the benefit of paying less interest straight away.

Regular overpayments can only be made by standing order and are amounts that you pay us each month in addition to the normal monthly payment. When we receive a regular overpayment, we recalculate the amount you owe and the interest you pay at the end of our financial year (currently 31st March). The amount you owe will not be reduced immediately.

On this mortgage, early repayment charges may apply and we charge an administration fee (currently £50) on each occasion. However, during the financial year, you can make lump sum and/or regular overpayments that will not incur an early repayment charge or an administration fee providing that - 1) each lump sum overpayment is not less than £2,000 and 2) the total amount repaid does not exceed 10% of the amount owed at 1st April. If an overpayment is made which causes the total amount overpaid to exceed 10% then the whole of that overpayment will be subject to an early repayment charge due and an administration fee will be payable.

Not available to students

Let to Buy : Accepted

Capital Rest Period : Yearly

Repayment Yes

Endowment Yes

PEP Yes

Pension Yes

Interest only (no RV) Yes

With Profits Yes

Unit Linked Yes

ISA Yes

Split Repayment Yes

Arrangement : £499 Can be Added

Booking : None

3% of loan to be paid until 31/05/2011, 10% capital repayments allowed per year without penalty

None

Basic:

Free

Homebuyers:

upto £50,000 - £310

upto £75,000 - £350

upto £100,000 - £390

upto £150,000 - £430

upto £200,000 - £470

upto £250,000 - £520

upto £350,000 - £570

upto £500,000 - £770

upto £750,000 - £840

upto £1,000,000 - £930

upto £1,500,000 - £1090

upto £2,000,000 - £1230

upto £2,500,000 - £1440

upto £3,000,000 - £1590

The applicant does not have to pay the Higher Lending Charge on this mortgage.

Telegraphic Transfer fee £30 may apply.

For all mortgages (not applicable to Flexible mortgages) there is an administration fee of £50 for each part overpayment where applicable.

For properties valued over £3 million please refer to Bristol & West for the valuation fee.

The valuation fee includes an administration fee of £90.

There is a £50 fee for reinspections and final inspections, including an admin fee of £8.50

For revaluations - admin fee goes up to £20 on properties valued up to £250,000 making the total fee £100.

Remortgage Land Registry Fee.

Bristol & West requires that the remortgage Land Registry fee is shown for remortgage cases where free legals with Bristol & West solicitors is not available. The Fees are

England & Wales Cases

Loan Amount - Fee

Up to £100,000 - £40

£100,001 to £200,000 - £50

£200,001 to £500,000 - £70

£500,001 to £1,000,000 - £100

£1,000,001 and over - £200

Scottish Cases

Loan Amount Fee

Up to £20,000 £22.00

Up to £30,000 £33.00

Up to £40,000 £44.00

Up to £50,000 £55.00

Up to £60,000 £66.00

Up to £70,000 £77.00

Up to £80,000 £88.00

Fees increase by £11.00 for every £10,000 until

Up to £200,000 £220.00

Up to £300,000 £250.00

Up to £400,000 £275.00

Up to £500,000 £300.00

Up to £600,000 £325.00

Up to £700,000 £350.00

Up to £800,000 £400.00

Up to £1,000,000 £450.00

Up to £1,500,000 £750.00

Up to £2,000,000 £1000.00

Up to £3,000,000 £1500.00

Up to £5,000,000 £2500.00

Exceeds £5,000,000 £3750.00

Higher Lending Charges are calculated on the difference between 75% of the value of your home and the amount you wish to borrow. Added fees will not be included in this calculation.

Lender Conveyancing Fee - £100.00 Payable on completion. A non-refundable legal fee payable to the solicitor before the loan starts. The figure quoted here is an estimate and only covers the legal work undertaken on lenders behalf, the total fee for conveyancing may be higher. (Fee not charged on remortgage products with free legals)

Mortgage Release Fee - £0.00 Payable on redemption. A mortgage release fee – payable on full repayment and non-refundable. This fee is based on current rates and may be subject to change in the future.

Insurance Admin - £25.00 Payable on completion.

Lending Fee - £195.00 Payable on completion. A lending fee. We charge this fee for making a loan under a new mortgage. The fee becomes due on completion but you can defer payment until the date on which the mortgage is fully repaid. We will assume that you want to defer payment unless you tell us otherwise. We will not charge interest on the fee in the meantime. The fee is not refundable.

Freehold Flat No

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Refer

Maisonette Yes

Studio Flat Yes

Flying Freehold Refer

Thatched Yes

Timber Framed Refer

Concrete Refer

Agricultural Tie Refer

Flat Over 4 Storeys Consider

Listed Building Yes

Not Accepted

Flats with lift, please refer to Bristol & West for maximum number of storeys in block.

For Builder or Vendor Incentives and Deposits, lending is based on the lower of the valuation or the net purchase price after the deduction of the incentive.

Flats in converted office blocks and speculatively converted ex local authority blocks are unacceptable.

Accepted Locations : England, Scotland, Wales

Bank Statements No

At Least 3 Months Pay Slips Refer

P60 Refer

Proof Of Residency Yes

Life Policy To Be Assigned No

Previous Lender References Refer

Min Loan £15,001/Rmg £25,001

Max Loan £1,000,000/Rmg £1,000,000

Max Portfolio of BTL Loans none

Min Age 18 years

Max Age none

Min Term 10 years

Max Term 35 years

Foreign Citizens Refer

Ex-Patriates Refer

Based on Income > 0

4.5 + 1 or 4 joint

Min months in current position none

Min months in continuous service none

Min no. of years accounts 2

Average years taken to calculate income 2

Will consider declining profit Refer

For Standard mortgages income multiples of 4.5 +1 or 4 x joint income.

The main earning parent's income is used as the primary source and the main child's income as the secondary source, either on a joint or +1 basis

For Let to Buy criteria please contact the lender.

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft Refer to lender

Credit/Store Cards Taken into account

Child Maintenance Taken into account

Child Education NOT Taken into account

Extra Income:-

Other Income - Guaranteed Add 100% to income before multiply

Other Income - Regular Add 50% to income before multiply

Other Income - Irregular Refer to Lender

Investment Income No

Mortgage Subsidy Add 100% to income before multiply

Large Town Allowance Add 100% to income before multiply

Maintenance Payments No

Non Contributory Pension No

Car Allowance Refer to Lender

Capital Raising 95%

Home Improvements 95%

Debt Consolidation 95%

School Fees 95%

Holidays/Cars 95%

Buy Other Property 95%

Business Purposes Refer to Lender

Divorce Settlement 95%

Unencumbered 95%

Remortgages are available up to the maximum LTV of the product, refer to Bristol & West for details.