Larger loan deals Intermediary products

Larger loan deals

Intermediary products

Larger loan deals

For intermediaries only.

We've launched a range of limited edition larger loans to help you find a solution for your clients borrowing £750k to £3m. The fixed and discounted variable rate deals are available for a limited period, with an application fee of £295 and a product fee of 0.50%.

The range includes the following:

Limited edition 3 Year Fixed Rate at 2.79% (4.5% APRC)

Limited edition 5 Year Fixed Rate at 3.39% (4.3% APRC)

Limited edition 5 Year Discounted Variable Rate at 2.49% (3.7% APRC)

 

The other key features of the range are:

  • For interest only loans
  • 60% to 75% LTV
  • Affordability based (no income multiple restriction)
  • Up to 25 year term
  • Procuration fee 0.50%
  • Early Repayment Charges (ERCs) apply during the deal period
  • Up to max age 85
Limited Edition 3 Year Fixed RateLimited Edition 5 Year Fixed RateLimited Edition 5 Year Discounted Variable Rate
Initial interest rate2.79%3.39%2.49%
LTV60-75%60-75%60-75%
Term/until3 years5 years5 years
Follow on rate5.49%5.49%5.49%
APRC4.5%4.3%3.7%
Product fee0.50%0.50%0.50%
Application fee£295£295£295
Early repayment charge3% for 3 years3% for 4 years then 1% for 1 year3% for 3 years
Overpayment10%10%5%
Minimum loan£750k£750k£750k
Maximum loan£3m£3m£3m

APRC calculated on a mortgage of £1m on a repayment basis over 13 years.

All products may be changed or withdrawn at any time and without notice.

The representative examples below aim to show you the costs associated with our products and are representative of the Society’s typical customer.

Representative example no.1

A mortgage of £1,000,000 payable over 13 years initially on a fixed rate for 3 years at 2.79% and then on our current variable rate of 5.49% for the remaining 10 years would require 36 monthly payments of £7,650.24 and 120 monthly payments of £8,681.19.

The total amount payable would be £1,324,519.49 made up of the loan amount plus interest of £324,519.49.

The overall cost for comparison is 4.5% APRC representative.

 

Representative example no.2

A mortgage of £1,000,000 payable over 13 years initially on a fixed rate for 5 years at 3.39% and then on our current variable rate of 5.49% for the remaining 8 years would require 60 monthly payments of £7,935.08 and 96 monthly payments of £8,592.77.

The total amount payable would be £1,308,378.77 made up of the loan amount plus interest of £308,378.77.

The overall cost for comparison is 4.3% APRC representative.

 

Representative example no.3

A mortgage of £1,000,000 payable over 13 years initially on a discounted variable rate for 5 years at 2.49% and then on our current variable rate of 5.49% for the remaining 8 years would require 60 monthly payments of £7,510.22 and 96 monthly payments of £8,421.40.

The total amount payable would be £1,266,435.65 made up of the loan amount plus interest of £266,435.65.

The overall cost for comparison is 3.7% APRC representative.

 

Your home may be repossessed if you do not keep up repayments on your mortgage.

To find out how you and your clients can benefit from these limited offers, call our Intermediary Team on 01858 412670 or email brokers@mhbs.co.uk and let them help you find the right solution.