National Counties Building Society - With effect Thursday 3 April the changes below will be made to our mortgage product range
01 April 2014
Withdrawal from all new business:
Residential investment
4.99% fixed rate to 30 November 2016 (F205)
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Launched for applications submitted directly or via an intermediary:
TWO YEAR FIXED RATES
OWNER OCCUPIER BORROWING UP TO 80% LTV (fees assisted remortgage F230)
Initial rate: 2.49% fixed rate to 31 August 2016
Interest calculated: Monthly
Follow on rate: National Counties’ monthly standard variable rate, currently 4.79%
ERCs: 2% until 31 August 2015, 1% until 31 August 2016 with usual 10% pa ERC free allowance.
Reservation fee: £100
Processing fee: None
Completion fee: £595
Purpose: Remortgage with standard "fees assisted" package
Repayment methods: Repayment only
Conditional insurances: None
Minimum loan: £45,000
Maximum loan: Usual limits apply
Completion deadline: 1 September 2014
Cashback: None
Additional criteria: For applications between 75% & 80% LTV reduced income multiples apply and applicants must be able to evidence 12 months repayment history, mortgage or rental.
Distribution: Direct (Customer Centre or online) or via an Intermediary
Procuration fee: 0.20% of initial advance (min £100)
OWNER OCCUPIER BORROWING UP TO 80% LTV (fees payable purchase F231)
Initial rate: 2.49% fixed rate to 31 August 2016
Interest calculated: Monthly
Follow on rate: National Counties’ monthly standard variable rate, currently 4.79%
ERCs: 2% until 31 August 2015, 1% until 31 August 2016 with usual 10% pa ERC free allowance.
Reservation fee: None
Processing fee: Standard fee scale
Completion fee: £595
Purpose: Purchase with full fees payable by applicant
Repayment methods: Repayment only
Conditional insurances: None
Minimum loan: £45,000
Maximum loan: Usual limits apply
Completion deadline: 1 September 2014
Cashback: None
Additional criteria: For applications between 75% & 80% LTV reduced income multiples apply and applicants must be able to evidence 12 months repayment history, mortgage or rental.
Distribution: Direct (Customer Centre or online) or via an Intermediary
Procuration fee: 0.20% of initial advance (min £100)
RESIDENTIAL INVESTMENT THREE YEAR FIXED RATE
RESIDENTIAL INVESTMENT BORROWING UP TO 60% LTV (fees payable remortgage and purchase) (F232)
Initial rate: 3.69% fixed rate to 30 September 2017
Interest calculation period: Monthly
Follow on rate: National Counties’ Residential Investment monthly standard variable rate, currently 5.54%
ERCs: 3% until 30 September 2015, 2% until 30 September 2016, 1% until 30 September 2017 with usual 10% pa ERC free allowance.
Reservation fee: None
Processing fee: Standard fee scale
Completion fee: £595
Purpose: Remortgage or purchase with full fees payable by applicant
Conditional insurances: None
Minimum loan: £45,000
Maximum loan: Usual limits apply
Completion deadline: 1 September 2014
Additional criteria: None
Distribution: Direct (Customer Centre or online) or via an Intermediary
Customers can contact the National Counties Customer Centre on 01372 744 155 or visit www.ncbs.co.uk should they require any further information.
ENDS
CONTACT
• Emma Avery, Product Development Officer: 01372 845429 / product@ncbs.co.uk
• Hilary Billison, Manager, Customer Centre: 01372 845410 / billisonh@ncbs.co.uk
• Joanna Wood, Marketing & Communications Manager: 01372 845 333 / woodj@ncbs.co.uk
• Customers can contact the National Counties Customer Centre on 01372 744 155 or visit ncbs.co.uk should they require any further information.
EDITORS’ NOTES:
i. National Counties Building Society is the UK’s twelfth largest building society, with over 50,000 members and £1.1bn of assets. Operating from its head office in Epsom, Surrey, the Society employs approximately 100 people and offers a range of competitive savings and mortgage products throughout the UK.
