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High house prices are making it difficult for some people to buy the home they would like. However, one solution is to have a relative or friend to act as a Guarantor. Clearly this is a matter that requires very careful thought by all concerned and independent legal advice should be taken. With this type of mortgage the Guarantor will be responsible for the mortgage if the borrower does not make the required payments.
The Key features of this mortgage are detailed opposite. In addition to this, copies of our Tailored Mortgages and Mortgage Information leaflets are available as a PDF download.
For further details and to discuss your individual requirements please contact our Mortgage Department on 01582 765 411 or email mortgages@harpendenbs.co.uk.
Tailored Mortgages Leaflet PDF2.2MB You will need to have Adobe Acrobat Reader installed on your computer to view or print any of our forms. Click here to download.
*The actual rate payable will depend upon your individual circumstances, please ask for a personalised illustration.
This mortgage will be regulated by the Financial Services Authority (FSA). Follow this link for information regarding Mortgage Regulation.
Building insurance cover is required and can be arranged by the Society.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The Society is authorised and regulated by the Financial Services Authority
| Terms | |
| Minimum loan: | £25,000 |
| Maximum loan: | £1,000,000 |
| Value of property: | Not less than £75,000 |
| Max Loan to Value: | 70% of the property value |
| Current variable rate: | From 4.94% * |
| Overall cost for comparison: | 5.2% APR * |
| Leasehold: | Plus 0.15% to above rates |
| Portable: | Yes |
| Ages: | Minimum 18 - no maximum |
| Income capacity: | Based on affordability |
| Property location: | England and Wales |
| Repayment methods: | Repayment, interest-only, part & part |
| Administration Fee: | £25 |
| Arrangement Fee: | Refer |
| Valuation Fee: | Refer |
| Legal Fee: | Refer |
| Deeds Release fee: | £50 |
| Redemption fee: | £75 |
| Available for new purchase: | Yes |
| Available for remortgage: | Yes |
| Early repayment charge: | For the first 3 years |