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5.19% Family Mortgage 5 Year Fixed Rate to 31/05/2030 (XF0912)
Key things to bear in mind
- Purpose - Family Mortgage applications for Product Switch and Further Advance
- Loan to Value - 95%
- Security options available - Family Security Account, Family Offset Account, Security Through Property.
- Fixed Rate end date - 31/05/2030
- Application fee - £125 for Further Advance. £0 for Product Switches
- Legal fees - £100 minimum for Further Advance applications
- Valuation Fees - £0
- ~Product Fee - £0 for Further Advance and Product Switch
- Early Repayment Charges - 5% until 31/05/2026, 4% until 31/05/2027, 3% until 31/05/2028, 2% until 31/05/2029, 1% until 31/05/2030
- Maximum loan - £500,000 in total (across any original borrowing plus Further Advance(s)
- Minimum Loan - £2,000 for Further Advance. No minimum for product switches
- Cost for comparison - 7.1% APRC.
Representative example
A mortgage of £355,957.00 payable over 28 years initially on a fixed rate for 5 years at 5.19% and then on our variable Managed Mortgage Rate, currently 8.19% would require 65 monthly payments of £2,011.27 and 271 monthly payments of £2,594.01 plus one initial interest payment of £1,571.65.
The total amount payable would be £835,380.91 made up of the loan amount plus interest of £479,323.91 and a Mortgage Exit Fee of £100.
The overall cost for comparison is 7.1% APRC representative.
More downloads & what you'll need to apply
Identification
Only applicable for Further Advance applications - We carry out an electronic ID check on all applicants. If this fails you will need to provide us with ID documents.
Bank statements
Only applicable for Further Advance applications - Three full months most recent consecutive bank statements for all current accounts, to evidence all income and outgoings. Bank statements must show the applicants name, account number, sort code and bank logo.
Proof of income
Only applicable for Further Advance applications -
If you're employed in a company you'll need:
- Three months' most recent payslips
- Most recent P60.
If you have property or investment income you'll need:
- Two years most recent SA302s.
If you're self employed you'll need:
- Two years most recent accounts or two years most recent SA302s / Tax Calculations (100% Completed) or Family Building Society Accountant's Certificate
- Accountant's details on the application form.
If you are already retired or if the term of your mortgage term goes beyond retirement or age 70 you'll need:
- Most recent Pension Statement or letter from Department for Work and Pensions
- Most recent annual Pension Statement
- Most recent P60.
Other items
Only applicable for Further Advance applications -
If you already let a property you'll need:
- Evidence of rent being paid in and mortgage being paid out (bank statements requested above may already cover this).
Case study - The Family Mortgage - helping first time buyers with small deposits
Choosing the Family Mortgage to buy their first home together
Over 125 years of helping people move in
For a long time we've been trusted to lend to a wide variety of people with a more small scale, personal approach as shown in our awards.
Contact our expert UK team
Existing customers
Savings - 03330 140144
savings.service@familybsoc.co.uk
Mortgages - 03330 140146
mortgage.service@familybsoc.co.uk
...or ask the way that suits you.
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Visit us in branch
Ashley Square, Epsom, Surrey, KT18 5DD.
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