Further advance 3 year discount

  • Initial rate:

    5.15% variable

  • APRC:

    6.0%

  • Maximum LTV:

    75%

  • Early repayment charge:

    No

  • Portable
  • Overpayments allowed

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

Interest rates:

  • During the first 3 years: 5.15% (Standard variable rate minus 1%)
  • After the first 3 years: 6.15% variable (Standard variable rate)
  • For comparison purposes: 6% APRC

Maximum LTV:

  • 75%

Fees:

  • Further advance application fee: £120
  • Valuation fee: If required, is payable
  • Mortgage Exit Administration Fee (MEAF): £100

Loan size:

  • £2,500 (min) - £500,000 (max)

Features:

  • No Early Repayment Charge (ERC)
  • Overpayments allowed

Representative example:

A mortgage of £47,000 (including an application fee of £120) payable over 12 years initially on our standard variable rate, currently 6.15% with a discount of 1.00% for 36 months giving a current rate payable of 5.15% and then on our standard variable rate, currently 6.15% for the remaining 9 years would require 36 monthly payments of £202.22 and 108 monthly payments of £241.49.

The total amount payable would be £80,580.84 made up of the loan amount plus interest
of £33,360.84 and a MEAF of £100.

The overall cost for comparison is 6.0% APRC representative. Please note this illustration is based on an Interest only basis (capital and repayment is also available).

Who’s eligible to apply?

  • Available to existing borrowers looking to borrower more on your existing Newbury Building Society mortgage.

Fees:

  • Application fees can be added to the mortgage and are refundable if the mortgage does not take place.
  • If a valuation of the property is required the fee for this is payable in advance and cannot be refunded once the valuation has taken place.
  • 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.