Offset Discounted Rate for Term 2.39%

An Offset Mortgage allows you to use your savings to offset up to 100% of your current mortgage balance.

Key Information
Next Steps

Loan to Value (LTV)	A variable rate with a 2.60% discount off our standard variable rate (SVR) for the term of the mortgage	Then changing to our SVR for rest of mortgage term, currently	The overall cost for comparison is	Product Fees
75%	2.39%	n/a	2.6% APRC	£798

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

Based on a £145,000 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over a 15 year term: 180 monthly payments at a variable rate of 2.39%, (£959.35) £172,683. Valuation fee on property of £441,584, payable when you apply £410 (scale applies). Application fee payable when you apply £199. Completion fee payable at time of legal completion £599. Telegraphic Transfer fee payable when you apply £25. Solicitors fees payable to your conveyancer (estimated) £360. Mortgage Discharge Fee payable at the end of your mortgage £150. Total Amount Payable £174,426.00

Terms

Completion fee £599, application fee £199
An Early Repayment Charge applies if overpayments exceed 10% of the balance at the start of each year, within 5 years of completion: 5% during 1st year; 4% during 2nd year; 3% during 3rd year; 2% during 4th year; 1% during 5th year.
Other lending criteria may apply – details available on request.

Additional features

Option to link to Online Offset Share account – save up to 100% of your offset mortgage balance. Terms apply.
Make overpayments of 10% of the current balance each year without incurring early repayment charges
This mortgage is fully portable if the property is sold within the scheme period (terms apply).

Product Code: DISC 024

Working out your mortgage budget

It’s a good idea to know approximately how much you’ll have to spend before you start house hunting. The Melton’s mortgage advisors will help work out an affordability budget with you to give you an indication of how much you may be able to borrow.

Saving for your deposit

Opening a savings account can be a good way to save up for your deposit. Take a look at our range of savings accounts.

Finding your first home

Make friends with the agents. Calling and visiting your estate agents regularly will help ensure you’re the first to know when a hot new property hits the market.
Put aside a whole day, and do a number of viewings (six is the suggested maximum). Go on a weekday if you can – estate agents will give you more time than at the weekend.
Take your own pictures. These are much more useful than glossy agents’ shots. Film your visits on your phone, too. That way, you have something to refer back to.

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