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Find the AnswerYOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
I’d like to know more about remortgaging my home
Remortgaging – essentially switching your existing mortgage to a new deal – offers a range of possible solutions. You’re not moving house, and the new mortgage is still secured against the same property. It’s a way to free up some equity, whether it’s for home improvements, repaying loans or credit cards, buying something nice like a new car, purchasing another property, or anything else. We may also be able to help you get a better rate or extend the mortgage term.
| Products | Prod Code | More Details | Distribution | Initial Rate | Initial Period | Reverts to | App Fee | Product Fee | Underwriting Fee | Free Val? | Fee Assisted Legals? | Max LTV | Min Loan Amount | Max Loan Amount | ERC | Features |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 Year Discounted Remortgage | RD18 | View Details | Direct | 2.59% | 2 Years | SVR | £199 | £500 | For loans between £275,000 and £500,000 with an LTV of <75% an underwriting fee of £500 will apply. For loans between £275,000 and £500,000 with an LTV of >75% an underwriting fee of £1000 will apply. For loans between £500,001 and £750,000 an underwriting fee of £1000 will apply. | Yes | Yes | 90% | £30,000 | £750,000 (LTV up to 75%), £450,000 (LTV 76% to 90%) | 2.16% During Disc Period | Overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge. |
| Fees Assist Discount Mortgage | ASFE | View Details | Broker Direct | 3.25% | 2 Years | SVR | Nil | Nil | For loans between £275,000 and £450,000 with an LTV of <75% an underwriting fee of £500 will apply. For loans between £275,000 and £450,000 with an LTV of >75% an underwriting fee of £1000 will apply. | Yes | Yes | 90% | £75,000 | £450,000 | 2.00% During Disc Period | Overpayments up to 10% of original advance, per annum |
| Shared Ownership Remortgage | RESO | View Details | Broker Direct | 2.95% | 2 Years | SVR | Nil | Nil | Yes | Yes | 90% of share | £50,000 | £250,000 | 1.80% During Disc Period | Overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge. | |
| Standard Variable Rate | SV18 | View Details | Broker Direct | 4.75% | N/A | N/A | £100 | £175 | For loans between £275,000 and £500,000 with an LTV of <75% an underwriting fee of £500 will apply. For loans between £275,000 and £500,000 with an LTV of >75% an underwriting fee of £1000 will apply. For loans between £500,001 and £750,000 an underwriting fee of £1000 will apply. | No | No | 90% | £30,000 | £750,000 (LTV up to 75%), £450,000 (LTV 76% to 90%) | Yes | None |
| Second Home Mortgage | H2ND | View Details | Broker Direct | 3.25% | 2 Years | SVR | £249 | £900 | For loans between £275,000 and £500,000 an underwriting fee of £500 will apply. For loans between £500,001 and £750,000 an underwriting fee of £1000 will apply. | No | No | 75% C&I, 70% IO | £75,000 | £750,000 | 2.00% During Disc Period | Overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge. |
NOTES
LTV - Loan To Value
SVR - Standard Variable Rate (currently 4.75%)
Fee Assisted Legals - where the product selected includes fee assisted legals, the applicants must use the Society's nominated solicitors.
Fees Assist Discount Mortgage is subject to using the Society's nominated solicitors, and a contribution of up to £500 towards legal costs (excluding stamp duty) will be paid.
For loans in excess of 80% LTV, a higher lending charge will be payable. From time to time, the Society may meet this charge for you. Full details will be included within your ESIS Illustration. Where the fee is paid by Penrith Building Society, this will be up to a maximum of £1,500. Where the Higher Lending Charge is more than £1,500, you will be responsible for meeting the sum in excess of £1,500.
Self Build/Rennovation mortgage - 75% on plot / 75% max LTV available throughout the build, payable in arrears. Borrowers are expected to contribute their own funds in advance of mortgage draw down throughout the construction.
On a product by product basis, the Society applies limits to the maximum sum it is prepared to advance. These limits vary, dependent upon the product selected. Please refer to individual product information for further guidance.
LTV - Loan To Value
SVR - Standard Variable Rate (currently 4.75%)
Fee Assisted Legals - where the product selected includes fee assisted legals, the applicants must use the Society's nominated solicitors.
Fees Assist Discount Mortgage is subject to using the Society's nominated solicitors, and a contribution of up to £500 towards legal costs (excluding stamp duty) will be paid.
For loans in excess of 80% LTV, a higher lending charge will be payable. From time to time, the Society may meet this charge for you. Full details will be included within your ESIS Illustration. Where the fee is paid by Penrith Building Society, this will be up to a maximum of £1,500. Where the Higher Lending Charge is more than £1,500, you will be responsible for meeting the sum in excess of £1,500.
Self Build/Rennovation mortgage - 75% on plot / 75% max LTV available throughout the build, payable in arrears. Borrowers are expected to contribute their own funds in advance of mortgage draw down throughout the construction.
On a product by product basis, the Society applies limits to the maximum sum it is prepared to advance. These limits vary, dependent upon the product selected. Please refer to individual product information for further guidance.
