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Newly qualified professional residential fixed rate - 2 years Capital and Interest

For loans up to 90% of property value

Product nameNewly qualified professional residential fixed rate - 2 years Capital and Interest
Initial rate2.29%
Initial rate expires on
31st January 2021
Rate thereafterStandard Variable Rate, currently
5.20%
Overall cost for comparison4.7% APRC
Arrangement fee
£0
Option to add arrangement fees to mortgageYes the arrangement fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type
Legal and Valuation FeesFor more information visit Valuation Fees page
Eligibility

Available for purchase and remortgage#, new applications and product transfer. Applicants must be aged 18 or over. All loans are subject to status. Security will be required. Not available for business purposes.

This product is only available where one or more of the applicants has become fully qualified within the last 5 years and is employed in one of the following professions: Accountants, Architects, Barristers, Chartered Surveyors, Dentists, Medical Doctors, Pharmacists, Pilots, Solicitors, Vets, with a current income of £40k or more.

Maximum loan amount£600,000
Maximum loan to value90%
Minimum loan amount£80,000
Early repayment charge3% in year one
2% in year two
Special offers

£0 arrangement fee
Purchase: One free valuation
Remortgage: Free valuation and legal fees paid#

Overpayment permittedYes, up to 10% of outstanding loan each year without penalty. After the fixed period you can make over payments without any restrictions.
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# The switching package is only available to applicants moving their mortgage from another lender. If the property is unencumbered or the transaction is a purchase, a free valuation is available. Free valuations are available on properties worth £2m, or less. Optima Legal Services will charge a funds transfer fee of £42 to applicants who use the switching package. Further information on valuation fees.

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