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Adding to your mortgage

Variable rate further advances

Are you looking to make some improvements to your home or need to top up your mortgage for another purpose? We offer flexible and discount rate further advances for existing customers.  Please remember, to secure you 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 flexible and discount further advances offer you the opportunity to take advantage of interest rate changes. With a low application fee of £150 it is easy to arrange additional borrowing.

3 year discount
Initial
Rate		 For the reminder
of the term		 The overall cost
for comparison is		 Application
fee
6.94%
(0.15% below
our SVR
until 31.03.11)		 7.09%
Standard
Variable Rate		 7.30% APR £150
There are early repayment charges that apply until 30.09.2011

 
Deal for life flexible tracker
For the term
of the mortgage		 The overall cost
for comparison is		 Application
fee
6.94%
(1.94% above
'Bank Rate')		 7.20% APR £150
There are no early repayment charges with this further advance product

Rates correct as at 13 June 2008.

How it works

Our discount and flexible trackers are variable rate further advance mortgages.

  • Our discount further advance mortgages offer you the opportunity to pay a discounted interest rate for the disocunt rate term.

Advantages of our discount and flexible tracker further advance:

  • You can take advantage of possible reducing interest rates.
  • You can overpay and have the option to underpay or take a payment holiday up to the amount overpaid.
  • Interest is calculated daily, which will lead to interest savings over the term of the mortgage.
  • Your repayments will be lower with a discount mortgage leaving you with extra money.

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 Our mortgage products can be withdrawn at anytime.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