Your home may be repossessed if you do not keep up
repayments on your mortgage.
Offset Mortgages
Use this tool to find mortgages available for your
loan-to-value (LTV).
Offsetting can be a great way to use your money efficiently. Key flexible
features of our offset mortgages include:
Interest calculated on the basis of daily balances - to give you a consistently good deal.
No limit on the amount you can offset.
For all remortgages we will pay our own legal fees.
Loan-to-value - You can borrow up to a maximum of 60% of the value or purchase price of your property, whichever is the lower. Show all loan-to-value tiers
Depending on your remortgage choice, we will also refund the standard valuation fee. If we do so, a contribution of £330 will need to be repaid if you redeem your mortgage on or before 31.05.12.
Except Offset Tracker for the Term of the mortgage (+3.25%) which is £330 for 3 years from completion.
Lending limits - You can borrow from £25,001 and different lending limits will apply depending on your choice of mortgage. Find out more about lending limits
We only accept remortgage applications if you have owned your property for at least 6 months.
For rates for existing customers not moving home then phone 0845 602 6200.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Offset Tracker Mortgages
With our tracker rate mortgages, your interest rate tracks changes to the Bank of England's (B.o.E) base rate for a set period.
Product
name
Max loan to value
Initial rate
Then changing for the remainder of the term to
The overall
cost for
comparison is
Remortgage Offset tracker 60 for term of mortgage
60% LTV
3.75% currently. Tracks 3.25% above the BoE's base ratefor term of the mortgage
3.9%
APR
Arrangement fee:
£999 | Early
repayment charges -
3.00% for 3 years on original 'special rate' advance [full redemption] |
Refundable valuation fee | £330 charge if mortgage redeemed before 3 years from completion |
CHAPS Fee: £25
|
Additional Borrowing -
the same as St. James's Place Bank's offset variable mortgage rate.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Offset Fixed Rate Mortgages
With our fixed rate mortgage, you have the assurance of knowing your interest rate will stay the same for a set period.
Arrangement fee:
£499 | Early
repayment charges -
3.00% until 31.05.11, 2.00% until 31.05.12 on original 'special rate' advance [full redemption] |
Refundable valuation fee | £330 charge if mortgage redeemed before 31/05/2012 |
CHAPS Fee: £25
|
Additional Borrowing -
the same as St. James's Place Bank's offset variable mortgage rate.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Offset mortgages have these flexible features
Mortgage payment options - If you choose to minimise interest paid on your mortgage, you can choose between 3 ways of receiving the benefit of offsetting, and swap between them at any time. You can choose between Shorter Term, Lower Payments and Reduced Debt
Overpayments
- flexibility to make overpayments. Bear in mind that if you repay your mortgage in full within a special rate period, early repayment charges may apply.
Additional borrowing
- you can release money tied up in your home, based on your income and house
value.
Payment holidays - you can take 2 monthly payment holidays each year, not during the first 6 months, the fixed rate period or the last 3 years of the mortgage. We still charge interest, which, along with missed payments, is repaid over your remaining term.
Interest calculated on the basis of daily balances - to give you a consistently good deal.
Portable - you can carry forward the special rate to a mortgage on a new property for the remainder of the special rate period.
Choose your repayment type - repayment, interest-only,
or a combination of both.
Choose the term of your mortgage - from 5 years upwards
(providing the loan is repaid by your 65th birthday).
Offset mortgages - give you the option to link your St. James's Place Bank savings and/or current account balances and instead of receiving interest on your savings and/or current account balances, you pay none on the equivalent amount of your mortgage.
