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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Current rates effective from 07/02/2014
Applications are subject to standard lending criteria and all loans are subject to status.
¹Every mortgage lender has a standard variable rate, or SVR, of interest to which most of its mortgage deals revert. The standard variable rate is set by the lender and may go up and down from time to time.
APR stands for Annual Percentage Rate and is designed to show the total yearly cost of a mortgage stated as a percentage of the loan. APR is quoted by every lender to help customers compare the overall costs of different mortgages. It includes all charges incurred such as the interest rate paid at the start of the mortgage, the product fee, valuation fee and other charges commonly paid at the end of a mortgage term.
²LTV stands for loan to value ratio. This tells you how much of a property is being financed by your mortgage and is a way to tell how much equity you have in a property. For example, if you buy a home worth £100,000 and your mortgage is for £75,000, your loan is 75% of the home's total value and therefore your loan to value ratio (LTV) is 75%.
³A minimum rate of interest, referred to as a 'floor', applies to our tracker products. This means that when the Bank of England Base Rate falls, the interest rate you pay also falls by the same amount but it cannot go any lower than the minimum rate 'floor'.
You can pay off your mortgage early whenever you want, but you will have to pay an early repayment charge if you repay all of your mortgage within the first two years or more than 10% of the loan or £10,000 (whichever is the lower figure) per year in the first two years.
Overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan, or £10,000 (whichever is the lower figure) per year are allowed without charge. Any amount repaid over the 10% (or £10,000) limit will incur a charge of the percentage specified on the excess amount:
1% in years 1-2
For a full list of all our possible mortgage charges and a description of when these may apply, you can download our Guide to mortgage fees and charges.
Norwich & Peterborough Building Society and N&P are trading names of Yorkshire Building Society. Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Yorkshire Building Society is entered in the Financial Services Register and its registration number is 106085. Principal office of Yorkshire Building Society: Yorkshire House, Yorkshire Drive, Bradford, BD5 8LJ
References to 'YBS Group' or 'Yorkshire Group' refer to Yorkshire Building Society, the trading names under which it operates (Barnsley Building Society, the Barnsley, Chelsea Building Society, the Chelsea, Norwich & Peterborough Building Society, N&P and Egg) and its subsidiary companies.
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