The Airmiles Mortgage

5-Year Airmiles 60% general terms

General Terms

• Rate fixed until 30 April 2014
• Loans must start by 5 May 2009
• Fixed-rate funds are limited and deals may be withdrawn at any time. Funds can be reserved only when we have received your completed application form
• Rates effective from 8 December 2008
• Not available for buy-to-let
• Early Repayment Charges apply during the fixed-rate period and will not include any of the Airmiles awarded
• There is an 80% LTV limit for new-build properties and if you are switching your mortgage from another lender, you must have owned the property for at least six months by the planned completion date
• Airmiles will be awarded to the first-named borrower only

Please check the date the rate is fixed until as, depending on when your loan starts, it may not be exactly 5 years - it may be slightly more or slightly less

C&G Airmiles mortgage - only available if you're:

• moving home
• switching from another lender (but not moving home)

General points

In addition to the specific information that will be taken into account in agreeing a mortgage or additional borrowing, such as the value of your property and your income, there are some other general points that currently apply to all C&G mortgages which you need to know about:

Within six months of your C&G mortgage starting:

• You cannot apply to borrow more
• You cannot change the term over which your mortgage is due to run

If you’re switching your existing mortgage from another lender (remortgaging):

• You must have owned the property for at least six months by the time your new mortgage starts.

If you’re borrowing 75% or less of your home’s value:

• You can arrange your mortgage, or part of it, on an interest-only basis. 

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Fee	Amount	Brief description
Application fee	£99	You'll need to pay this non-refundable fee if you're buying a new property or moving to a C&G mortgage from another lender.
Product fee	As shown in the Overview tab	With some of our mortgage deals there's a product fee to pay, with others there isn't. Usually, there's a choice, and you can get a lower rate in return for paying a fee or no fee and a higher rate. Where a product fee applies, it will be added to your new mortgage. You can then pay the fee off if you want to, or leave it on your mortgage to spread the cost. If you pay it off within 30 days of the start of your mortgage, no interest will be charged on it. If you leave it on your mortgage, interest will be charged on it as part of your main mortgage.
Valuation fee	Dependant on property value	Payable if you're buying a new property or, if your loan is for £1 million or more and you are moving to a C&G mortgage from another lender.
Transfer of funds fee	£35	You'll need to pay this non-refundable fee for the transfer of money when your mortgage starts if you're buying a property, switching your mortgage from another lender, or are an existing C&G or Lloyds TSB mortgage customer borrowing more.

For more information, view the full list of Fees & charges.

Early Repayment Charges

An Early Repayment Charge applies during the fixed-rate period. This means you will face a charge if you repay or change more than 10% of the loan's capital balance (as at 1 January) in any one year. You can repay up to 10% extra each year without the charge applying (unless you go on to repay or change the rest of the loan within the next six months). The charge varies depending on how long you have left on your fixed-rate - see the table below.

Repayment Period	Charge (% of amount repaid or changed)
Before 01/05/10	5%
01/05/10 - 30/04/11	5%
01/05/11 - 30/04/12	4%
01/05/12 - 30/04/13	3%
01/05/13 - 30/04/14	2%

At the end of the fixed-rate period

Your loan will switch to the Standard Variable Mortgage Rate, which at that time, could be higher or lower than the rate you will have been paying and may vary over the remaining term of your mortgage.

Next steps

Below is a list of items you may need handy when you apply:

• Your last three months' payslips
• Your last three months' bank statements if you want any other income to be considered e.g. rental or investments
• If you are self-employed and seeing a Mortgage Specialist, two years' self-assessments
• If you are within five years of your planned retirement age or aged 60 or over, your up-to-date forecasts for any state, company and/or personal pensions
• If you already have an existing mortgage elsewhere, your last year's mortgage statements
• If you're buying a property, the sales particulars