2 Year Fixed Rate - 90% LTV with cashback
Product overview
6.40%
Initial rate for 2 years
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This is the introductory interest rate you will pay if you select this product.
Initial rate for 2 years - 6.40%
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This is the interest rate after your initial rate ends. Once your stepped rate ends you will move to SVR.
Stepped rate for 3 years - 6.25%
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This is our normal interest rate without any special discounts. SVR can go up or down over time.
SVR after 5 years - 6.80%
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On average, the yearly interest rate you'll pay over the entire term. This takes interest and any fees into account. APRC helps you compare the overall cost of different mortgages.
Overall cost for comparison (APRC) - 6.6%
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This is the fee you will pay if you take out this mortgage.
Product fee - £0
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This is the sum you will receive with this mortgage. The cashback amount will be paid to your solicitor upon completion.
Cashback - £500
Is this deal right for me?
Over 85,000 homeowners supported in 2024.
For the ones who
- Want the certainty of a fixed rate
- Want to know exactly what their monthly repayments will be during the fixed period
- Are looking to borrow at least £75,000
Not for the ones who
- Want to let the property
- Are looking to borrow more than £1,000,000
Key features
What is included in this mortgage product.
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Repayment mortgage
Your monthly payments will include repaying your mortgage and interest owed.
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Free valuation
You will receive a free valuation if you choose this mortgage product.
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Overpayments allowed
You’ll be able to overpay up to 10% of your balance each year without a charge.
Detailed information
Please read this information before proceeding.
|
Rate type |
Rate |
End date |
|---|---|---|
|
This deal |
6.40% |
30/09/2028 |
|
Stepped rate |
6.25% |
30/09/2031 |
|
Standard Variable Rate (SVR) |
6.80% |
Until you choose a new deal |
If you take out this mortgage deal your interest rate will be fixed for a set period of time. We'll contact you 6 months before your fixed term ends to ask what you want to do next. You can:
- Do nothing, and we'll move you onto the stepped rate.
- Take out a new Principality mortgage.
- Switch to another provider.
If we don't hear from you, we will automatically move you onto the stepped rate. Once your stepped rate ends, unless you contact us, we will move you onto our SVR. Our current SVR is 6.80%, but this could change by the time your deal ends.
A mortgage of £90,000 payable over 11 years initially on a fixed rate for 2 years at 5.95% and then on our Standard Variable Rate of 6.80% (variable) for the remaining 9 years would require:
- 24 monthly repayments of £951.38 and
- 104 monthly repayments of £983.93
- Total amount payable would be £125,234.84
The total amount payable would be broken down as follows:
- Loan amount: £90,000
- Interest: £35,234.84
- Product fee: £0.00
- Valuation fee: £0.00
- Telegraphic transfer fee: £8.00
- Discharge fee: £65.00
The overall cost for comparison is 6.7% APRC representative.
Product fees
£0.00
Valuation fees
Principality will bear the cost of a Standard Report and Standard Valuation for Mortgage Purposes only.
Legal fees
If you're remortgaging, we will cover your basic legal fees, providing you use our chosen solicitors, though they will be acting for only us. Any additional work will need to be discussed and agreed on, and additional charges will apply.
If you're purchasing a property, you may instruct a solicitor from our approved panel and you must pay all your legal costs yourself.
Early Repayment Charges
Any early repayment charge will be based on your mortgage balance at the time you make the early repayment. You will incur an early repayment charge of:
- 2% of the amount repaid if you pay in full on or before 30/09/2027
- 1.5% of the amount repaid if you pay in full after 30/09/2027 and on or before 30/09/2028
Cashback
The cashback amount of £500.00 will be paid to your solicitor upon completion.
This fixed rate mortgage is available for owner-occupied residential properties in Wales or England. This fixed rate mortgage is a limited offer and can be withdrawn at any time.
Although the interest rate will not rise before the end of the fixed rate period, other factors may result in your repayments increasing before this date. For example, unpaid amounts being debited to your account.
Drawdown: No
Payment holidays: No
Overpayments: Yes
Underpayments: No
Borrow back: No
Here to help at any stage
Find out more about our mortgages. Call us on 0330 333 4000 or make an enquiry and we'll arrange a time to call you back.
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Book an appointment
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Ask us anything about our mortgages
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Get a recommendation on a Principality mortgage
Your home may be repossessed if you do not keep up repayments on your mortgage.
Additional information
* Monthly repayments is an approximate calculation that is based on the information you’ve entered into the search calculator. It only shows an estimate of what you might pay each month during the initial deal period. It doesn’t take into account any fees or charges if you make changes to your mortgage.