Principality flexible mortgage deals are aimed at buyers with different life and financial situations. Principality is the largest Welsh building society and has been around for more than 145 years. There are six Principality flexible mortgage deals.
The Principality flexible mortgage two year tracker has a rate that is the same as the Bank of England's base rate until the end of January 2010. After that time it reverts to the building society's standard variable rate, which is currently 7.49 per cent, to give an APR of 7.5 per cent. There is a 3% early repayment charge. An arrangement fee of £1500 applies but can be added to the loan.
The Principality flexible mortgage fee saver three year discounted has a rate that is discounted at 1.85 per cent until the end of January 2010. After that time it reverts to the building society's standard variable rate, which is currently 7.49 per cent, to give an APR of 7.4 per cent. There is an early repayment charge of 3 per cent of the original loan if the mortgage is repaid before January 2010. There are no administration fees.
Previously the Principality flexible mortgage was also offered as a lifetime tracker it had a rate of 0.49 per cent above the base rate for the life of the mortgage, to give an APR of 5.4 per cent. There was no early repayment charge. An administration fee of £499 applied. At the time of writing this deal was not available but please ring us on: 0845 6033173 to get the latest news on this popular deal.
The Principality flexible mortgage fee saver two year discount has a rate which is 2.25 per cent below the building society's standard variable rate (currently 7.49 per cent) until January 2010, when it reverts to the standard variable rate, to give an APR of 7.5 per cent. An early repayment charge of 3 per cent of the original loan will be applied if the mortgage is repaid in full during the discount period. There are administration fees set at 1.75% of the home loan.
The Principality flexible mortgage two year discount is set 2 per cent below the building society's standard variable rate until 31/1/10, when it reverts to the standard variable rate. The APR is 7.5 per cent. An early repayment charge of 3 per cent of the original loan will be applied if the mortgage is repaid in full during the discount period. A lenders administration fee of £1149 applies.
All of the Principality flexible mortgage products are portable The maximum loan to value is 95 per cent, though a higher lending charge is payable for loans over 90 per cent. Valuation fees are included and legal fees are paid for remortgagers. With the Principality flexible mortgage borrowers may overpay and underpay (up to the level of previous overpayment). There is no borrow back facility with the Principality flexible mortgage. Payment holidays may also be taken after the mortgage has been held for six months and payments are up to date. Additional amounts may be borrowed up to the limits set by Principality*. However underpayments and payment holidays could increase the mortgage term and/or the total amount payable.
Drawdown of additional funds on the same rate as initial rate
Limited high street presence
Overpayments/underpayments and holidays
