6.77% Discount for 3 years

6.77% Discount for 3 years

Up to £500,000 (Remortgage only LTV 75)

Mortgage NOT portable, Mortgage is Flexible, Overpayments allowed.

If you move within any early repayment period, this product cannot move with you. Early repayment charges and the discharge fee will be payable but will be refunded on completion of the mortgage, with exception of any charges which relate to any part of the balance not transferred to the new mortgage.

Free Legal

Product is not CAT standard.

Payment Holidays Allowed. A Payment Holidays is where you take a break from mortgage payments. To take a payment holiday the applicant must have sufficient funds in Cash Reserve or Prepayment Reserve to cover the payment holiday. Applicants can take up to 2 payment holidays a year as long as at least 7 consecutive payments have been made. Applicant must give at least 22 days notice in advance.

Payment holidays are a drawdown from applicants reserves and are not eligible for discount rate. Interest will be charged at the variable rate the product will change to after the expiry of any initial discounted or fixed rate periods.

THIS WILL INCREASE THE AMOUNT OF BORROWING SECURED ON YOUR CLIENTS HOME.

Borrow Back Allowed. Any overpayments made are paid into a prepayment reserve. You may borrow back from this reserve at any time, subject to the Lenders terms and conditions, as long as you borrow a minimum of £1000 and if the current mortgage payments are up to date.

Funds borrowed back are a drawdown from this reserve, and the interest rate applied will reflect that of the rate being charged on the tracker product at that time. The rate will be applied until the end date of the incentive period of that tracker product.

All drawdowns from your Prepayment Reserve will be subject to an administration fee (currently £20).

Free legal facility where the customer can use SLB in house solicitors to handle the remortgage. If the client uses their own solicitors SLB will contribute £250 towards the cost which is given on completion of the case. This amount is NOT added to the loan.

Free basic valuation

You can make lump sum or regular overpayments. The amount you owe will reduce immediately on receipt of any overpayments and interest calculated on the reduced balance daily. Over the longer term, this can mean reduced monthly payments or a shorter mortgage term.

This mortgage includes a facility for additional secured borrowing. With your FREESTYLE mortgage you can apply for Credit Reassessment.

After you mortgage has been running for 6 months, the lender can look at any changes in you income, your expenditure and the value of your home to determine whether you could borrow any more against your mortgage. The Lender will charge a fee currently £99 for credit reassessment and you also incur a valuation fee and legal fees.

THIS WILL INCREASE THE AMOUNT OF BORROWING SECURED ON YOUR HOME.

Standard Life Bank Ltd. Mortgages are normally only available to UK residents aged 25 and over. There is normally an upper age limit of 75. Availability is subject to both lending criteria and terms and conditions.

Buy to Let : Accepted, Max properties 10

Capital Rest Period : Daily

Repayment Yes

Endowment Yes

PEP Yes

Pension Yes

Interest only (no RV) Yes

With Profits Yes

Unit Linked Yes

ISA Yes

Split Repayment No

Arrangement : £690 Can be Added

Booking : None

6 Months interest within first year, Then 6 Months interest for next year, Then 6 Months interest for next year

None

Basic:

Free

Homebuyers:

upto £100,000 - £440

upto £200,000 - £540

upto £300,000 - £640

upto £500,000 - £740

upto £750,000 - £940

upto £1,000,000 - £1240

upto £1,500,000 - £1490

upto £2,000,000 - £1690

There is an option to add fees to the loan.

You can add all associated fees including Booking/Arrangement fees, Offset fees, Valuation fees and Legal fees. The customer will be reimbursed the full standard valuation fee including the admin fee. This amount will be added to the loan amount (the fee account). If using their own solicitors, they will be reimbursed £250 towards solicitor costs, this will then be added to the customers loan amount (the fee account).

All fees added to the loan will be calculated on a Repayment basis and on the Standard Variable rate. Early Repayment Charges will be calculated based on the Reverting rate

12 month transfer window. Fees for Fixed Rates between 2-10 properties:

- High Loan £345 arrangement fee, £655 booking fee

- Standard Loan £345 arrangement fee, £150 booking fee

- Low Fee £345 arrangement fee, £5 booking fee.

12 month transfer window. Fees for Discounted Rates between 2-10 properties:

£345 arrangement fee, no booking fee.

For properties valued over £2 million please refer to Standard Life for the valuation fee.

Valuation fee includes a non-refundable SLB administration fee of £90.

Added fees will not be included in this calculation.

CHAPS Fee - £28.00 Payable on completion.

Freehold Flat Refer

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Refer

Maisonette Refer

Studio Flat Refer

Flying Freehold Refer

Thatched Yes

Timber Framed Yes

Concrete Refer

Agricultural Tie Refer

Flat Over 4 Storeys Refer

Listed Building Refer

Not Accepted

New Build acceptable.

Accepted Locations : England, Scotland, Wales, N Ireland

Bank Statements No

At Least 3 Months Pay Slips No

P60 No

Proof Of Residency Yes

Life Policy To Be Assigned No

Previous Lender References No

Buildings Conditional

Min Loan /Rmg £40,000

Max Loan /Rmg £500,000

Max Portfolio of BTL Loans none

Min Age 25 years

Max Age 75 years

Min Term 5 years

Max Term 25 years

Foreign Citizens Accepted

Ex-Patriates Accepted

Based on Income > 0

Refer to rental income calculations

Min months in current position none

Min months in continuous service none

Min no. of years accounts 2

Average years taken to calculate income 2

Will consider declining profit Refer

Rental income is calculated on 110% of the monthly interest payment, based on the BTL SVR, currently 7.94%.

Standard Life Bank Ltd will require income verification if the loan is

greater than 85% LTV

Self employed customers borrowing 75% LTV or above or not choosing the self cert route can ask their accountant to complete an income verification certificate, instead of the accountant sending in the last 2 years certified accounts.

The minimum income for BTL mortgages is £20k single, £30k joint.

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft NOT Taken into account

Credit/Store Cards Taken into account

Child Maintenance NOT Taken into account

Child Education NOT Taken into account

Extra Income:-

Other Income - Guaranteed Add 100% to income before multiply

Other Income - Regular Add 50% to income before multiply

Other Income - Irregular No

Investment Income Refer to Lender

Mortgage Subsidy No

Large Town Allowance Add 100% to income before multiply

Maintenance Payments No

Non Contributory Pension No

Car Allowance No

Capital Raising 75%

Home Improvements 75%

Debt Consolidation Not accepted

School Fees 75%

Holidays/Cars 75%

Buy Other Property 75%

Business Purposes Not accepted

Divorce Settlement 75%

Unencumbered 75%

Debt consolidation and capital raising across Standard Life's Bank Ltd product range allows up to a maximum of 90% LTV on remortgages.

CCJs : Refer to lender

Defaults : Refer to lender

Arrears : Refer to lender

Bankrupt : Not Acceptable

Current IVA : Not Acceptable

Repossession : Refer to lender

Refer all adverse credit to Lender for initial assessment.

- The Lender will judge customers with previous or existing adverse credit in a flexible manner and every case will be judged on its individual merits, along with the customer's ability to keep up repayments on the mortgage, taking into account his/her existing liabilities.

- The Lender will consider cases of financial difficulty and mortgage arrears sympathetically.

- The Lender follows the general principles of the Council of Mortgage Lenders' Statement of Practice on Handling Arrears and Possessions, including :

a) with your co-operation, developing a plan with you for dealing with your financial difficulties and clearing the arrears, consistent with both your interests and the Lender.

b) possession of your property will be sought only as a last resort when attempts to reach alternative arrangements with you have been unsuccessful.