Shared Ownership - 6.59% Fixed For 3 Years

Please note that you cannot apply for the Shared Ownership Mortgage online or over the telephone. Please visit your local branch for further information about this mortgage.

To ensure you have full details on this product, please print a copy of Product Info, Details Summary and Flexible Features.
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Shared Ownership - 6.59% Fixed For 3 Years

Product information

  • 6.59% fixed for the first 3 years changing to our variable Standard Mortgage Rate for the rest of the mortgage term, currently 3.99%. The Standard Mortgage Rate has no upper limit or cap.

  • The overall cost for comparison is 4.6% APR.

  • Minimum deposit 15% of property share.
  • Booking fee of £100 is payable on application and will be refunded within 10 days of completion. The refund cheque will be made payable to the first named borrower (not refunded if the application doesn't proceed).
  • A valuation fee will be charged in accordance with the valuation fee scale.  This fee will be paid on application.
  • In the event of the mortgage being repaid, in full or in part, during the fixed rate period, an early repayment charge applies of 3% in the 1st year, 2% in the 2nd year and 1% in the 3rd year. The charge will be made on the original loan amount or, in the case of part repayment, the amount of capital repaid.

Product Details Summary

  • Daily Interest
    All Cheshire products have interest calculated daily.

  • Home Insurance
    With our home insurance, you can tailor the cover to suit your needs. There is no compulsory insurance however an acceptable buildings policy must be in place on or before completion.

  • Mortgage Payment Protection Insurance
    Our optional mortgage payment protection insurance cover is available and the cover is designed to meet your mortgage payments in the event that you are unable to work as a result of accident, sickness or unemployment.

  • Advance Level
    House Purchase and Remortgage minimum advance £25,000.

    First Time Buyer minimum advance £30,000.

    Maximum is £250,000.

Flexible Features

  • Payment Holidays
    Regular underpayments and lump sum withdrawals (minimum £500, maximum £25,000 per transaction) allowed against accrued overpayments only. 7 working days written notification is required.

  • Overpayments
    Up to £5,000 of overpayments are permitted on the mortgage in the 12 month period commencing on the mortgage completion date, and in each anniversary year thereafter, where early repayment charges apply. Afterwards, unlimited overpayments can be made for the remaining years without having to pay an early repayment charge.

  • Portability
    Product is portable subject to the new application meeting our lending policy.
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Products are subject to availability and may be withdrawn, or subject to change by the Society without notice.