The rate you pay will stay the same each month until a set date, whatever happens to interest rates generally.
Please see our helpful guide to understanding the mortgage rate table, in which you'll find the key mortgage product information to help you when making sure the product is what you're looking for.
Please note that these deals can be withdrawn at any time.
For loans of between £0 and £7,500,000, and up to 60% of your home's value
|Initial rate||Followed by our Homeowner variable rate, currently||The overall cost for comparison is||Product fee||Early Repayment Charges|
How much...will I pay each month?
How much...will I be able to borrow?
|3.24% Fixed until 31 August 2015||3.99% for the remainder of the term||4.0% APR||None||Yes until 31/08/15|
Please check the date the rate is fixed until as, depending on when your loan starts, it may not be exactly 2 years - it may be slightly more or slightly less.
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:
If you already have an interest-only mortgage with us and you’re now switching to a new deal, you can continue on an interest-only basis up to the same amount as you already have on interest only if you want to. But if you’re borrowing more at the same time, and your total mortgage is going to be more than 75% of your home’s value, the new additional borrowing must be on a repayment basis.
If you decide to switch, you will go onto either the Homeowner Variable Rate or Buy-to-Let Variable Rate at the end of your new deal and it will not be possible for you to return to the Standard Variable Mortgage Rate in the future.
Within six months of your C&G mortgage starting:
|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.|
For more information, view the full list of Fees & 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% 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)|
|01/09/14 - 31/08/15||2%|
Your loan will switch to the Homeowner Variable 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.
Below is a list of items you may need handy when you apply: