Personal Finances
Remortgage Offers
Move your mortgage without moving house, with no
legal or valuation fees.
All our mortgages are available to customers wishing to switch their
mortgage from their existing lender to the Royal Bank. However, if you want to borrow
£25,000 or more and have at least 10% equity in your home, consider one of our special
remortgage packages:
Benefits:
- No legal or valuation fees
- No need to contact your existing lender
- Choice of 3 different mortgage types
Plus:
- No Maximum Advance Premium
- Choose how to repay - Capital Repayment, Endowment, Pension Plan or Individual Savings
Account
- Mortgage term can range from 3 years to retirement or age 70, whichever is earlier
All of our re-mortgage products offer a full refund on valuation and
legal fees when using the Bank’s nominated valuer and solicitor. You can also take
advantage of 3 months’ free Mortgage Loanguard premiums.
This package is ideal if you want the flexibility to make extra payments into your
mortgage, take payment breaks or release the equity in your home.
There is an arrangement fee of £295 for mortgages below £35,000.
- 3 & 5 Year Fixed Rate Re-mortgage
We offer a choice of 3 and 5 year fixed rate
re-mortgages,
giving you the security of knowing that no matter what happens to general interest rates,
your payments will never change during the fixed period. There is an arrangement fee of
£295, payable when booking a fixed rate. This secures the rate you have chosen for a
period of three months, meaning that even if we change the fixed rates on offer, or they
are withdrawn from sale, we will still honour the rate we agreed with you (this fee is
non-refundable).
- 6 Month Discount Re-mortgage
Take advantage of a substantial 3% discount on our standard
variable rate until 1 March 2003 – the lower payments let you save money for the
things you want. There is an arrangement fee of £295 for mortgages below £35,000.
- 2 Year Discount Re-mortgages
Moving to either of our 2 Year Discount re-mortgages allows
you to make great savings over a longer period of time, with up to 1.5% discount off our
standard variable rate until 1 September 2004. Our 2 Year Discount with no early repayment
charge is ideal for customers who don’t want to be tied into their mortgage –
see the table below for details. There is an arrangement fee of £295 for mortgages below
£35,000.
| Mortgage
Type |
Rate |
APR |
Monthly
repayment |
Monthly
repayment at current mortgage rate |
Total amount
payable |
Early
repayment / switching charge |
| Flexible
Choice Re-mortgage |
5.20% |
5.6% |
£447.23 |
N/A |
£137,463.14 |
None |
6 Month
Discount Re-mortgage
3% off the Bank’s standard variable Mortgage Rate (currently
5.95%) until 01.03.03 |
2.95% |
6.2% |
£353.71 |
£478.67 |
£146,044.92 |
2% until 01.03.03
1% until 01.03.04 |
2 Year
Discount Re-mortgage with no early repayment charge
1.2% off the Bank’s standard variable Mortgage Rate (currently 5.95%) until
01.09.04 |
4.75% |
6.1% |
£427.59 |
£477.56 |
£145,335.89 |
None |
2 Year
Discount Re-mortgage
1.5% off the Bank’s standard variable Mortgage Rate (currently 5.95%) until
01.09.04 |
4.45% |
6.1% |
£414.75 |
£476.63 |
£144,772.15 |
2% until 01.09.04
1% until 01.09.05 |
3 Year Fixed
Rate Re-mortgage
until 01.09.05 |
5.89% |
6.5% |
£490.13 |
£481.74 |
£148,418.01 |
3% until
01.09.03
2% until 01.09.04
1% until 01.09.05 |
5 Year Fixed
Rate Re-mortgage
until 01.09.07 |
5.99% |
6.5% |
£492.44 |
£482.66 |
£148,976.09 |
5% until
01.09.03
4% until 01.09.04
3% until 01.09.05
2% until 01.09.06
1% until 01.09.07 |
Fixed rate mortgages are subject to
availability of funds. We would advise that, where a fixed rate is
chosen, funds are booked as soon as possible. The maximum amount for a
fixed rate mortgage is normally £500,000, however applications in
excess of this amount will be considered on an individual basis.
For further details contact a Customer Adviser in
one of our branches or FREEPHONE 0800 917 3025.
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