4.45% Tracker

Up to £999,999 (Remortgage only LTV 75)

Mortgage is Portable

If you need to repay your mortgage to move home during the initial mortgage product period, providing you don't change lender, you will usually be able to continue with this mortgage for the remainder of the initial product period. In addition, if this is during an early repayment charge period, providing you borrow the same or greater amount from the lender and continue with this mortgage for the remainder of the initial product period, you won't normally have to pay the early repayment charge. If the loan is for a smaller amount, you may have to repay part of the charge.

- Mortgage is NOT for First time buyers

Free Legal

THE ALL WEATHER MORTGAGE: A TRACKER MORTGAGE WITH THE OPTION TO SWITCH ONTO ANY ONE OF OUR FIXED RATES AT ANY TIME WITHOUT PAYING AN ERC.

C&G mortgages are always calculated on affordability, the income multiples attached are to be used as a guide line only, for more accurate information please refer to the affordability calculator on our website.

For Right to Buy refer to Cheltenham & Gloucester.

Minimum term on all products is equal to the product duration.

All homeowner loans - All homeowner loans and remortgages with additional borrowing will be limited to 80% LTV (like for like remortgaging is unaffected). In addition a homeowner loan cannot be taken out within 6 months of the mortgage starting or a previous homeowner loan. Specific homeowner loan products are available from Cheltenham & Gloucester.

Payment Holidays Allowed. In certain circumstances, and if your mortgage is up to date, for a short period you can pay less than your normal full mortgage monthly payment, or even suspend your payments for a while (a payment holiday). You would need to discuss this with us first. Underpaying will make your mortgage balance increase by the amount of the underpayment (and any accruing interest) and you must start paying again at the end of the period agreed between us.

One free valuation for all remortgages.

Free Legals available in England, Scotland and Wales through Cheltenham & Gloucester's own conveyancer on standard remortgages over £50k. This offer does not apply to complex cases, including but not limited to, Transfer Of Equity, raising funds for the purchase of a property or guarantor cases, where your client will need to instruct their own solicitor. Please ask for details of any further exclusions. A £400 contribution towards legal fees is available for standard remortgages over £50k in Northern Ireland, this option is also available to customers in Scotland. Conditions apply, in all cases refer to Cheltenham & Gloucester for details.

During the tracker period, you may wish to switch to any fixed rate (subject to eligibility), available at the time of the switch, without paying an early repayment charge. A fee for the fixed rate chosen may be payable.

You can repay up to 10% of the loan's balance per year during the early repayment charge period (using the balance as at 1 January of the year in question) and the charge will be waived. This waiver applies per individual loan. So if your total mortgage is made up of more than one loan, each is treated separately and you can make additional payments of no more than 10% on any individual loan which carries an early repayment charge without the charge applying. Where you make overpayments of 10% or less but then repay the balance in full within six months, the early repayment charge will become payable in full, including the portion which was waived previously.

You can make overpayments as occasional lump sums or as regular overpayments each month. Any overpayment will reduce your mortgage balance, and therefore reduce the amount of interest charged, straightaway.

You may underpay (pay less than the required monthly amount) provided you have previously overpaid and the underpayment is no more than your previous overpayment(s) less any underpayments (including payment holidays) already made.

Capital Rest Period : Daily

Repayment Yes

Endowment 75% LTV

PEP 75% LTV

Pension 75% LTV

Interest only (no RV) 75% LTV

With Profits 75% LTV

Unit Linked 75% LTV

ISA 75% LTV

Split Repayment Yes

Arrangement : £995 Can be Added

Booking : None

1% of loan to be paid within first 3 Years, 10% capital repayments allowed per year without penalty

None

Basic:

Free

NO ERC WILL BE CHARGED IF THE CUSTOMER SWITCHES ONTO A C&G FIXED RATE DURING THE OFFER PERIOD OF THIS PRODUCT.

Added fees will not be included in this calculation.

Transfer of Funds Fee - £35.00 Added to loan.

Lenders Conveyancing Fee - £415.00 Payable on completion. You may have to pay a solicitor for the legal work involved in your mortgage. Any fee is non-refundable and payable to your solicitor when the mortgage starts. We have given an estimate of a typical fee but the actual charge could be more. Our product information will explain if we have a special offer to pay your legal costs. The amount depends on the loan amount as follows:

up to £49,999: £275

£50K to £99,999: £415

£100K +: £500

Application Fee - £99.00 Payable upfront. Must be paid at point of application.

Freehold Flat No

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Yes

Maisonette Yes

Studio Flat No

Flying Freehold Yes

Thatched Yes

Timber Framed Yes

Concrete No

Agricultural Tie No

Flat Over 4 Storeys Yes

Listed Building Yes

Not Accepted

New Build acceptable. Over 4 storeys not accepted for council blocks.

Flat over shop maximum 80% LTV, must not be both shop and flat.

Timber Framed not if the cavity has been filled with insulating material.

All New Build properties (defined as being any properties that were first occupied less than 6 months ago) are restricted to a maximum of 80% LTV for Mainstream products and 65% LTV for BTL's.

Second/holiday homes: Maximum LTV is 75%.

Accepted Locations : England, Scotland, Wales, N Ireland

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

Buildings Conditional

Min Loan /Rmg £5,000

Max Loan /Rmg £999,999

Max Portfolio of BTL Loans none

Min Age 18 years

Max Age 75 years

Min Term 1 years

Max Term 35 years

Foreign Citizens Refer

Ex-Patriates Refer

Based on Income > 1

3.05 + 0 or 1.25 joint

Based on Income > 10001

4 + 0 or 2.9 joint

Based on Income > 15001

4.4 + 0 or 3.55 joint

Based on Income > 20001

4.6 + 0 or 3.85 joint

Based on Income > 25001

4.85 + 0 or 4.1 joint

Based on Income > 30001

5.25 + 0 or 4.7 joint

Based on Income > 40001

5.25 + 0 or 4.75 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 2

Will consider declining profit Refer

The income multiple figures are for general guidance only, C&G's lending decisions are not restricted to these figures and all cases are individually assessed for affordability.

C&G mortgages are always calculated on affordability, the income multiples attached are to be used as a guide line only, for more accurate information please refer to the affordability calculator on our website.

Self employed income verification requirements: Two years accounts or one years accounts plus projected income for the next 12 months.

Higher income multiples may be available dependant on individual cases - refer to Cheltenham & Gloucester.

If a customer is 60 or over, Cheltenham and Gloucester will base affordability calculation on their retirement income only.

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft Taken into account

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 100% to income before multiply

Other Income - Irregular No

Investment Income Add 75% to income before multiply

Mortgage Subsidy Add 100% to income before multiply

Large Town Allowance Add 100% to income before multiply

Maintenance Payments Add 100% to income before multiply

Non Contributory Pension No

Car Allowance Add 100% to income before multiply

Capital Raising 75%

Home Improvements 75%

Debt Consolidation 75%

School Fees 75%

Holidays/Cars 75%

Buy Other Property 75%

Business Purposes 75%

Divorce Settlement 75%

Unencumbered 75%

CCJs : Not Acceptable

Defaults : Not Acceptable

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 follow 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.