2% of the loan amount is available, subject to a minimum release of £35,000.
Downsizing Early Repayment Charge Exemption
This feature is desgined to add peace of mind should the property be sold and the loan repaid in full due to moving to a property that does not meet our lending criteria.
After an initial period of five years, the loan can be repaid in full as a result of such a move without incurring any Early Repayment Charges.
The Early Repayment Charge is based on a simple sliding scale over the first 10 years of the loan, with the charge being 5% in years 1 - 5, 3% in years 6 - 10 and 0% from year 11 onwards.
Flexi repayment option
Up to 10% of the initial loan, with a minimum of £50, can be repaid each year with no Early Repayment Charges.
Guaranteed Inheritance Feature
This comes as standard, at no extra cost, up to 50% of the property value can be protected when the maximum loan amount is not taken.