This mortgage product is designed for mortgage borrowers who require long term payment certainty, but don't want to be tied down for the longer term.
There is a 2 year early repayment charge (ERC).
Available only through UK mortgage intermediaries. Contact us today for more information.
You can benefit from a 5 year year fixed rate mortgage with a 2 year Early Repayment Charge (ERC).
You can borrow up to 95% loan to value (LTV) on residential property for purchases. For remortgages max LTV is 85%.
Get a five-year fixed rate for 5 years, but with the freedom to move after 2 years if rates fall.
A recently returning UK expat from Australia, wanted to remortgage his London property in Hampstead but whilst wanting the security of a 5 year fixed rate, did not want to be locked into a 5 year ERC (Early repayment charge) due to the size of the mortgage (in excess of £700k).
The fix and switch mortgage product offers a 2 year ERC, which means if UK interest had fallen after this time, you have the option of switching to a new lower rate mortgage product without penalty. This product also comes with a free valuation and standard legal work is also covered by the lender.
This is a unique product from Virgin Money in the UK mortgage market, allowing borrowers peace of mind that they can move to a cheaper mortgage after 2 years if interest rates fall. In this time of uncertainty providing homeowners with flexibility is a welcome move from a major UK lender.
If you're interested in learning more about this or other similar products, enquire now and speak to a broker and you may find ways to maximise your borrowing power.
If you are looking to get a mortgage in your later years, we recommend you speak to an expert who will listen to your specific circumstances and advise you on the best course of action.
At Clifton Private Finance, our team of mortgage advisors and the expert partners we work with are dedicated specialists with an in-depth understanding of the finer nuances of equity release mortgages, pension-backed mortgages and specialist retirement products.
We are here to help you find the right deals, obtain the best rates, feel confident and secure about the process, and enjoy a smooth experience when getting your mortgage.
Contact us today to ask any questions and get some personal help.
Still unsure? Call one of our experts on 0117 205 4833 or book a consultation
