Up to £500,000 90% LTV

Min 75.01% LTV

Mortgage is Portable, Mortgage is Flexible, Overpayments allowed.

If you move within any early repayment period, your mortgage can move with you. Early repayment charges and the discharge fee will be payable but will be refunded on completion of the mortgage, with exception of any charges which relate to any part of the balance not transferred to the new mortgage.

Product is not CAT standard.

Payment Holidays Allowed. A Payment Holidays is where you take a break from mortgage payments. To take a payment holiday the applicant must have sufficient funds in Cash Reserve or Prepayment Reserve to cover the payment holiday. Applicants can take up to 2 payment holidays a year as long as at least 7 consecutive payments have been made. Applicant must give at least 22 days notice in advance.

Payment holidays are a drawdown from applicants reserves and are not eligible for discount rate. Interest will be charged at the variable rate the product will change to after the expiry of any initial discounted or fixed rate periods.

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

Borrow Back Allowed. Any overpayments made are paid into a prepayment reserve. You may borrow back from this reserve at any time, subject to the Lenders terms and conditions, as long as you borrow a minimum of £1000 and if the current mortgage payments are up to date.

Funds borrowed back are a drawdown from this reserve, and the interest rate applied will reflect that of the rate being charged on the tracker product at that time. The rate will be applied until the end date of the incentive period of that tracker product.

All drawdowns from your Prepayment Reserve will be subject to an administration fee (currently £20).

You can make lump sum or regular overpayments. The amount you owe will reduce immediately on receipt of any overpayments and interest calculated on the reduced balance daily. Over the longer term, this can mean reduced monthly payments or a shorter mortgage term.

This mortgage includes a facility for additional borrowing without further approval. With your FREESTYLE Mortgage, you can apply for a Cash Reserve facility. Your Cash Reserve is the difference between the amount we are willing to lend you when you apply for your FREESTYLE Mortgage and the amount you actually borrow, subject to certain maximum as per our lending criteria. We will charge a fee, currently £99 to set up a cash Reserve facility.

If your application for a Cash Reserve is successful and we create a Cash Reserve for you, you will be able to borrow money from this reserve for any purpose at our FREESTYLE Standard Variable Rate or any other fixed or discounted variable rates that may be available for Cash Reserve drawdowns from time to time.

Drawndowns at a fixed or discounted variable rate will be subject to a booking fee or an arrangement fee respectively. All drawdowns from your cash Reserve will also be subject to an administration fee (currently £20). The minimum amount you can borrow is £1000.

You can choose to borrow funds in your Cash Reserve over a shorter term, subject to a minimum of one year. The amount you borrow from your Cash Reserve must be repaid in full when your mortgage is redeemed.

There are no Early Repayment Charges when the Cash Reserve funds you have borrowed at our FREESTYLE Standard Variable Rate are repaid. However, if the Cash Reserve is taken on one of our Fixed or discounted variable rate products and repaid during the incentive period then the Early Repayment Charges for that product will apply.

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

This mortgage includes a facility for additional secured borrowing. With your FREESTYLE mortgage you can apply for Credit Reassessment.

After you mortgage has been running for 6 months, the lender can look at any changes in you income, your expenditure and the value of your home to determine whether you could borrow any more against your mortgage. The Lender will charge a fee currently £99 for credit reassessment and you also incur a valuation fee and legal fees.

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

Standard Life Bank Plc. Mortgages are only available to UK residents aged 18 and over. There is normally an upper age limit of 69. Availability is subject to both lending criteria and terms and conditions.

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

None

Basic:

upto £100,000 - £215

upto £200,000 - £275

upto £300,000 - £335

upto £500,000 - £450

upto £750,000 - £625

upto £1,000,000 - £825

upto £1,500,000 - £985

upto £2,000,000 - £1185

Homebuyers:

upto £100,000 - £440

upto £200,000 - £540

upto £300,000 - £640

upto £500,000 - £740

upto £750,000 - £940

upto £1,000,000 - £1240

upto £1,500,000 - £1490

upto £2,000,000 - £1690

There is an option to add fees to the loan.

All fees added to the loan will be calculated on a Repayment basis and on the Standard Variable rate.

For properties valued over £2 million please refer to Standard Life Bank Plc for the valuation fee.

Fees can be added to the loan over a minimum of 1 years and a maximum of the mortgage term. Fees added to the loan are calculated on a Repayment method only. They are calculated at the rate your payments will revert to after any discounted or fixed rate period is complete.

Valuation includes a non-refundable Standard Life Bank administration fee of £90.

Added fees will not be included in this calculation.

Cash Reserve Fee - £99.00 Added to loan. This fee becomes payable when the cash reserve facility is activated.

Lenders Conveyancing Fee - £250.00 Payable on completion. Lenders Conveyancing Fee - £250.00 Payable on completion. This is an estimate of the non-refundable costs payable by you to your solicitors for the preparation of the security documentation on behalf of Standard Life Bank Ltd.

Legal advice required by you may incur additional costs. If required STANDARD LIFE BANK LTD. will send you a payment of £250 upon completion of your mortgage to assist you with the payment of this fee. This amount will be added to your loan. For remortgages, if you use Standard Life Bank Ltd. solicitors then no reimbursement will take place, however, £250 will be added to the loan amount upon completion for this service

CHAPS Fee - £28.00 Payable on completion.

Freehold Flat Yes

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Refer

Maisonette Yes

Studio Flat Refer

Flying Freehold Refer

Thatched Yes

Timber Framed Yes

Concrete Refer

Agricultural Tie Refer

Flat Over 4 Storeys Refer

Listed Building Refer

Not Accepted

New Build acceptable. REFER TO STANDARD LIFE BANK PLC IF APPLICATION IS SELF BUILD.

MINIMUM EXCESS LEASE = 40 YEARS. MINIMUM LEASE AT OUTSET = 40 YEARS + TERM

Accepted Locations : England, Scotland, Wales, N Ireland

Bank Statements No

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 £25,001

Max Loan £500,000

Max Portfolio of BTL Loans £1,000,000

Min Age 18 years

Max Age 65 years

Min Term 3 years

Max Term 40 years

Foreign Citizens Not Accepted

Ex-Patriates Not Accepted

Based on Income > 0

4.3 + 1 or 4.3 joint

Min months in current position none

Min months in continuous service none

Min no. of years accounts 1

Average years taken to calculate income 2

Will consider declining profit Refer

Income multiples are quoted as a guide only. Standard Life Bank bases the loan amount on a unique affordability scheme and every decision is dependant on credit commitments rather than income multiples- please refer to Standard Life Bank for details.

Standard Life Bank Plc will require income verification if the loan is greater than 75% LTV

Income multiples are quoted as a guide only, Standard Life Bank Plc bases the loan amount on a unique affordability scheme and every decision is dependant on credit commitments rather than income multiples

Self employed customers borrowing 85% LTV or above can ask their accountant to complete an income verification certificate, instead of the accountant sending in the last 2 years certified accounts.

For non verification of income cases, 75% LTV or below, Standard Life Bank reserve the right to ask for income verification should we feel it is necessary. Each application is assessed on a case by case basis by our underwriting department.

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft NOT Taken into account

Credit/Store Cards Taken into account

Child Maintenance NOT 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 No

Investment Income Refer to Lender

Mortgage Subsidy No

Large Town Allowance Add 100% to income before multiply

Maintenance Payments No

Non Contributory Pension No

Car Allowance Add 100% to income before multiply

CCJs : Refer to lender

Defaults : Refer to lender

Arrears : Refer to lender

Bankrupt : Not Acceptable

Current IVA : Not Acceptable

Repossession : Refer to lender

Refer all adverse credit to Lender for initial assessment.

- 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.