Key Features
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Available for new purchases, refinancing and releasing additional capital
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- Up to 80% maximum finance to value (FTV)
- Rent Rate = 4.19% fixed until December 2013, reverting to Bank of England Base Rate + a margin of 3.99%
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| Finance Amount |
- £70,000 to £750,000 (higher amounts may be considered)
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| Mimimum Property Value |
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| Term |
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| Maximum number of applicants |
- Up to four applicants, one of which must be an owner occupier of the property being financed
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| Administration Fee |
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| Valuation and legal fees |
- Paid by the applicant(s)
- We will pay up to £400 (inclusive of VAT) towards the costs of our own solicitor's fees as a contribution towards supporting your HPP application
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| Minimum age of applicants |
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| Rent Reviews |
- Fixed period ends in December 2013
- The new Rent Rate effective from 1st January 2014
- Rent will be reviewed quarterly thereafter in line with our Standard product
- No additional acquisition payments are permitted during the fixed period but after this period ends, additional acquisition payments can be made in the month prior to each rent review (minimum £4,000 with a £25 administration fee)
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| Margin |
- The bank reserves the right to change the margin on its products however, a cap applies of 2%. This means that the bank cannot increase the margin on its HPP products by more than 2% over the margin that applied at the outset.
- The bank cannot change its margin whilst a fixed rent rate applies
- You will be given at least 30 days advance notice of any changes in the pricing structure
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| Settlement |
- Customer has the opton to sell the property at anytime without any penalties (subject to an administration fee to cover any costs)
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Click here to apply or for more information
Check your eligibility for our HPP by using our Agreement in Principle
To request a call back, click here
YOUR HOME MAY BE AT RISK IF YOU DO NOT KEEP UP THE PAYMENTS ON YOUR HOME PURCHASE PLAN
The Home Purchase Plan is available for purchases in England, Scotland and Wales.