The rate you pay will stay the same each month until a set date, whatever happens to interest rates generally.
Available if you're already a C&G mortgage customers borrowing more. You can apply to borrow more on your mortgage so long as it's been at least six months since you took it out or last borrowed on it, e.g. with a Homeowner Loan.
The most you can borrow in total is 80% of the value of your home. This means that the amount of your existing C&G mortgage and your new loan added together cannot be more than 80% of the value of your home.
Please note that these deals can be withdrawn at any time. A deal is not secured until we have received your completed paper application form.
For loans of between £5,000 and £1,000,000 and up to 80% of your home's value
| Initial rate | Followed by our Homeowner variable rate, currently | The overall cost for comparison is | Product fee | Early Repayment Charges |
|---|---|---|---|---|
|
||||
| 5.49% Fixed until 30 November 2012 | 3.99% for the remainder of the term | 4.6% APR | £895 |  Yes until 30/11/12
|
Please check the date the rate is fixed until as, depending on when your loan starts, it may not be exactly 2 years - it may be slightly more or slightly less.
In addition to the specific information that will be taken into account in agreeing additional borrowing, such as the value of your property and your income, there are some other general points that currently apply to all C&G mortgages which you need to know about:
| Fee | Amount | Brief description |
|---|---|---|
| Application fee | £99 | You'll need to pay this non-refundable fee if you're buying a new property, moving to a C&G mortgage from another lender or are an existing C&G or Lloyds TSB mortgage customer borrowing more. |
| Product fee | As shown in the Overview tab | With some of our mortgage deals there's a product fee to pay, with others there isn't. Usually, there's a choice, and you can get a lower rate in return for paying a fee or no fee and a higher rate. Where a product fee applies, it will be added to your new mortgage. You can then pay the fee off if you want to, or leave it on your mortgage to spread the cost. If you pay it off within 30 days of the start of your mortgage, no interest will be charged on it. If you leave it on your mortgage, interest will be charged on it as part of your main mortgage. |
| Transfer of funds fee | £35 | You'll need to pay this non-refundable fee for the transfer of money when your mortgage starts if you're buying a property, switching your mortgage from another lender, or are an existing C&G or Lloyds TSB mortgage customer borrowing more. |
For more information, view the full list of Fees & charges.
An Early Repayment Charge applies during the fixed-rate period. This means you will face a charge if you repay or change more than 10% of the loan's capital balance (as at 1 January) in any one year. You can repay up to 10% each year without the charge applying (unless you go on to repay or change the rest of the loan within the next six months). The charge varies depending on how long you have left on your fixed-rate - see the table below.
| Repayment Period* | Charge (% of amount repaid or changed |
|---|---|
| Before 01/12/11 | 3% |
| 01/12/11 - 30/11/12 | 2% |
Your loan will switch to the Homeowner Variable Rate, which at that time, could be higher or lower than the rate you will have been paying and may vary over the remaining term of your mortgage.
Below is a list of items you may need handy when you apply:
