Residential Discounted Variable Rate For Mortgage Term – DID80A

• The Initial Rate is discounted by 1.74% below our Standard Variable Rate (SVR) for the duration of the mortgage term
• Maximum loan size £500,000 up to 85% loan to value (LTV). Maximum loan size £350,000 over 85% LTV and up 95% LTV
• A minimum interest rate of 3% will apply during the term of the discounted period
• Interest is calculated daily and and will be charged up to and including the date of redemption

This product is subject to change or withdrawal without notice

Full details of how to apply for this product are detailed in the accompanying letter with this mortgage product information. By switching to a new product, you should be confident that your circumstances haven’t changed as you won’t receive any advice and you won’t benefit from the Financial Conduct Authority rules on assessing suitability.

If your circumstances have changed in any way or if you are unsure of your options and would like advice, you will need to contact a mortgage broker who will act on your behalf. A mortgage broker will assess your financial circumstances and will recommend the most suitable product for you from the range of  mortgages available. They will then deal with your product switch directly with us, if you have given them authority to do so.

If you do not have a preferred mortgage broker to act on your behalf, we can pass your details to our trusted partner Mortgage 1st. Email us at producttransfers@mansfieldbs.co.uk  or call us on 01623 676345 if you would like to do this. Like most mortgage brokers, fees for advice may apply and these will be discussed with you in advance before you make a commitment to proceed.

If you choose to do nothing, your interest rate will revert to our Standard Variable Rate (currently 8.49%) or our follow-on rate (currently 6.75%), whichever is applicable, and your monthly mortgage repayments will increase in line with the revised rate.

There are no Early Repayment Charges (ERCs) to leave our Standard Variable Rate or our follow-on rate and you are free to move to one of our products or remortgage to another lender without penalty. For details of which rate applies to you, please see your mortgage offer or contact Mortgage Customer Services.

A discounted variable rate mortgage is discounted from our Standard Variable Rate (SVR), and as a result, the initial rate will go up or down when we change our SVR and by the same amount. We choose when to change our SVR depending on a variety of factors and our SVR is not directly linked to the Bank of England Base Rate (BBR). If the interest rate goes up, we will write to you in advance to inform you of the intended changes.

There are no Early Repayment Charges associated with this product and you can choose another deal with us or remortgage to another lender at any time without penalty.

There are no Early Repayments Charges applied on this product and you can make additional payments without charge.