5.79% tracker

5.79% Tracker (base + 0.54%)

Up to £ (max) 90% LTV

Mortgage is Portable, Mortgage is Flexible, Under payments allowed., Overpayments allowed.

All Scottish Widows Bank's rates are portable apart from discounted rates which can be re-negotiated by contacting us. If you move house and port rates during the period in which Early Repayment Charges apply Scottish Widows Bank will refund these charges, however, a proportion of the Early Repayment Charges will be payable if a lower loan amount is required for the new property. The loan on your new house will be subject to our normal lending criteria.

- Mortgage is an EXCLUSIVE product

This product has a mortgage Reserve Account option. Features are: subject to overall 90% LTV; electronic funds transfer - minimum £100; minimum facility - £5k; maximum facility normally £50k; regular payments available. Funds available from day mortgage completes. No repayment programme is required on the Mortgage Reserve Account until the limit is reached. Interest will accrue until then.

The loan on the customers new house will be subject to our normal lending criteria. Please contact lender for more details

For split loans the term on the interest only and repayment element must be the same.

Guarantors accepted-Refer to Lender.

Product is not CAT standard.

Payment Holidays Allowed. You may apply to Scottish Widows Bank for agreement to reduce or suspend your monthly payments for a time, provided your mortgage account has been well maintained for at least 12 months and you have a Mortgage Reserve Account in place. The reduced or suspended payments will be met from the Mortgage Reserve Account and interest will be charged on this account at Scottish Widows Bank’s Standard Variable Rate.

Linked Savings/Offset Account. Where all or part of your mortgage is on a variable or discounted rate you have the option of applying for a Mortgage Deposit Account, which allows you to offset your savings against this portion of your mortgage. Instead of earning interest on your Mortgage Deposit Account, you will not be charged interest on the equivalent amount of your mortgage. Your monthly mortgage payments remain the same but the interest payable on your mortgage is reduced. This means that you could repay your mortgage sooner. Please refer to product brochure for further details.

Contribution towards valuation fees – on completion of the mortgage, Scottish Widows Bank will refund up to a maximum of £250 to you in respect of the property valuation.

There are no restrictions on making overpayments to this loan. Once the overpayment has cleared it will reduce the amount of interest you will be charged.

A Mortgage Reserve Account is required if you wish to gain access to overpayments in the future. Please refer to product brochure for further details.

See Payment Holidays.

This mortgage includes a facility for additional secured borrowing. Mortgage Reserve Account - Subject to Scottish Widows Bank’s lending criteria you can also apply for a Mortgage Reserve Account. This is an additional drawdown facility which allows you to withdraw and deposit funds within a pre-agreed limit, up to the lower of (maximum product LTV) of the property purchase price or valuation (whichever is the lower) less the loan amount in section 3. Refer to product brochure for further details.

THIS WILL INCREASE THE AMOUNT OF BORROWING SECURED ON YOUR HOME.

Capital Rest Period : Daily

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

2% of original loan to be paid within first 2 Years

None

Basic:

upto £75,000 - £115

upto £150,000 - £175

upto £250,000 - £225

upto £350,000 - £280

upto £450,000 - £325

Homebuyers:

upto £75,000 - £250

upto £150,000 - £350

upto £250,000 - £450

upto £350,000 - £550

upto £450,000 - £650

Valuation fee Refunded on completion

- up to a maximum of £250

Arrangement fee is automatically added to the loan.

For property valuations over £450k please refer to Lender for the valuation fee.

Please refer to the Lender for any additional fees which may be charged on final redemption such as Deeds Release/Sealing/Admin fees.

Added fees will not be included in this calculation.

Transfer Fee - £25.00 Added to loan.

Redemption Fee - £195.00 Payable on redemption.

Freehold Flat Consider

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Yes

Maisonette Refer

Studio Flat Refer

Flying Freehold Refer

Thatched Yes

Timber Framed No

Concrete No

Agricultural Tie No

Flat Over 4 Storeys Yes

Listed Building Refer

Not Accepted

Accepted Locations : England, Scotland, Wales, N Ireland

Bank Statements 3 months

At Least 3 Months Pay Slips No

P60 No

Proof Of Residency Yes

Life Policy To Be Assigned No

Previous Lender References No

Buildings Conditional

Min Loan £50,000

Max Loan

Max Portfolio of BTL Loans none

Min Age 21 years

Max Age 65 years

Min Term 5 years

Max Term 40 years

Foreign Citizens Refer

Ex-Patriates Refer

Based on Income > 1

3.5 + 1 or 2.75 joint

Based on Income > 25000

4 + 1 or 2.75 joint

Based on Income > 50000

4 + 1 or 3.75 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 1

Will consider declining profit Yes

Income multiples are a guide only, all cases will be treated on an affordability basis.

(ALL APPLICATIONS ARE SUBJECT TO INDIVIDUAL ASSESSMENT AND EACH WILL BE CONSIDERED ON ITS OWN MERITS)

Minimum trading period is 12 months. Accountants certificate is required

Hire Purchase Refer to lender

Personal Loans Refer to lender

Overdraft Refer to lender

Credit/Store Cards Refer to lender

Child Maintenance Refer to lender

Child Education Refer to lender

Extra Income:-

Other Income - Guaranteed Add 100% to income before multiply

Other Income - Regular Refer to Lender

Other Income - Irregular No

Investment Income Refer to Lender

Mortgage Subsidy Refer to Lender

Large Town Allowance Refer to Lender

Maintenance Payments Refer to Lender

Non Contributory Pension No

Car Allowance Refer to Lender

Remortgage Not Available

CCJs : Considered

Defaults : Refer to lender

Arrears : Refer to lender

Bankrupt : Not Acceptable

Current IVA : Not Acceptable

Repossession : Not Acceptable

- The Lender will judge customers with previous or existing adverse credit in a flexible manner and every case will be judged on its individual merits, along with the customer's ability to keep up repayments on the mortgage, taking into account his/her existing liabilities.

- The Lender will consider cases of financial difficulty and mortgage arrears sympathetically.

- The Lender follows the general principles of the Council of Mortgage Lenders' Statement of Practice on Handling Arrears and Possessions, including :

a) with your co-operation, developing a plan with you for dealing with your financial difficulties and clearing the arrears, consistent with both your interests and the Lender.

b) possession of your property will be sought only as a last resort when attempts to reach alternative arrangements with you have been unsuccessful.