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Adding to your mortgage

Fixed rate further advance mortgages

Are you looking to make some improvements to your home or need to top up your mortgage for another purpose? We offer the following fixed rate further advances for existing customers.  Please remember, to secure your chosen mortgage you must pay the relevant booking fee.

Product features
  • No higher lending charge.
  • Pay up to 10% in overpayments per year with no early repayment charges.
  • Daily interest calculation for capital payments; you get the benefit of capital payments straightaway, through a reduction in the interest charged.
  • Maximum loan size is £500,000. Loans greater than this can be considered.
  • No early repayment charges after the initial period.

Getting a further advance

For existing customers our fixed rate further advances offer you the security of knowing how much your mortgage will cost every month. With a low application fee of £150 it is easy to arrange a additional borrowing.

2 year fixed
Initial
Rate		 For the remainder
of the term		 The overall cost
for comparison is		 Application
fee
6.89% 7.09%
Standard
Variable Rate		 7.30% APR £150
There are early repayment charges that apply until 30.09.2010

5 year fixed
Initial
Rate		 For the remainder
of the term		 The overall cost
for comparison is		 Application
fee
6.89% 7.09%
Standard
Variable Rate		 7.30% APR £150
There are early repayment charges that apply until 30.09.2013

10 year fixed
Initial
Rate		 For the remainder
of the term		 The overall cost
for comparison is		 Application
fee
6.89% 7.09%
Standard
Variable Rate		 7.20% APR £150
There are early repayment charges that apply until 30.09.2018

Rates correct as at 13 June 2008.

How it works

The interest you are charged on our fixed rate further advance stays the same for fixed rate term. At the end of this period, your mortgage will revert to our Standard Variable Rate.

Advantages of our fixed rate further advance:

  • You pay the same amount each month during the fixed rate term.
  • Protect your mortgage payments from interest rate rises during the fixed rate term.
  • Interest is calculated daily, which will lead to interest savings over the term of the mortgage.

Consider one of our other mortgages if:

Please Note

1. Our mortgage products can be withdrawn at anytime.  To be certain of obtaining your desired product you will need to follow the procedure and pay the associated booking fee.  Be aware that you will not secure any particular product until the relevant booking fee has been paid.

2. We may offer different products and/or similar but differently priced products through our various channels (branches, Derbyshire Direct, Intermediaries and the web). For full details of all available products, please contact us.