Existing Borrower Transfer Help to Buy fixed rate until 29 December 2028

  • Initial rate:

    4.29% fixed until 29 December 2028

  • APRC:

    5.7%

  • Product fees:

    £0 Existing borrower transfer

  • Maximum LTV:

    75%

  • Early repayment charge:

    Yes

  • Overpayments allowed
  • Portable

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

Interest rates:

  • 4.29% fixed until 29 December 2028
  • After 29 December 2028: 6.15% variable (Standard variable rate)
  • For comparison purposes: 5.7% APRC

Maximum LTV:

  • 75%

Fees:

  • Existing borrower product transfer application fee: £0
  • Mortgage exit administration fee (MEAF): £100

Loan size:

  • £40,000 (min) - £1,000,000(max)

Features:

  • Overpayments allowed

Early repayment charge:

The Early Repayment Charge period applies from the date of completion for the duration of the 3-year deal.

It is calculated on the balance transferred from an existing mortgage to this product. 

  • Year 1 – 3% 
  • Year 2 – 2% 
  • Year 3 – 1%

Overpayments:

Each year during the 3-year deal, you can overpay up to 10% of the original loan amount without incurring any charges.

  • If you exceed the 10% limit in a given year, the excess amount will be subject to the early repayment charge for that year.

For example:
If your original loan is £200,000:

  • You can overpay up to £20,000 per year without penalty.
  • If you overpay £30,000 in Year 1, the extra £10,000 would incur a 3% charge (£300).

Representative example:

A mortgage of £254,500 payable over 19 years and 4 months initially on a fixed rate for 3 years at 4.29% and then on our standard variable rate, currently 6.15% for the remaining 16 years and 4 months would require 36 monthly payments of £1,615.93 and 196 monthly payments of £1,841.80.

The total amount payable would be £419,266.28 made up of the loan amount plus interest of £164,666.28 and a MEAF of £100.

The overall cost for comparison is 5.7% APRC representative.

Who’s eligible to apply?

  • Available to existing borrowers looking to switch deal.
  • Property must be located in England or Wales (some London restrictions apply)

Fees:

  • If an existing borrower would like a revaluation carried out they will be required to pay a revaluation fee.
  • There is a fee of £120 for any addional borrowing on your existing Newbury Building Society mortgage.
  • A mortgage exit administration fee (MEAF) applies when you repay your mortgage. You may have to pay this if:
    Your mortgage term comes to an end;
    You transfer the loan to another lender; or
    You transfer borrowing from one property to another.

Other charges:

  • Charges applying to the ongoing administration of your mortgage are detailed in our Tariff of Charges leaflet, which you will be given before your mortgage completes. They can also be found on our website. 

Portability:

  • All our mortgages are portable, which means that if you move house within an early repayment charge period the product can be transferred to your new mortgage, up to the value of the product outstanding at redemption, without charge.