Shared Ownership

More Information

Type and Term	Interest Rate	The overall cost for comparison is	Arrangement Fee	Features	Early Repayment Charges
2 Year 1.00% Discount	4.19% variable for 2 years then changing to our SVR, currently 5.19% for the remaining term of the mortgage	5.2% APR	£0	Up to 80% LTV, must complete within 6 months of offer	None

NOTE: This mortgage is only available to tenants of Housing Associations who own or wish to buy a part share in the property they live in

To find out more about this mortgage, contact your Business Development Manager or call 01383 627713

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

 

Product availability
These products are limited issues and may be withdrawn without notice. Remortgages only available to new borrowers.

Maximum loan term
The maximum loan term on our mortgage products is 35 years.

How to arrange a mortgage
Call our Intermediary Centralised Processing Unit on 01383 627713 or speak to one of our Business Development Managers for more information. We will ask you to provide us with photographic evidence of your identity, for example a full valid passport and a full UK driving licence (not a provisional), and proof of your address. If you do not have either of these items, or other valid evidence ask our staff for advice. A mortgage with Dunfermline Building Society can be arranged directly with a branch of the Society, through Dunfermline Direct or via an intermediary e.g. your solicitor, estate agent or financial adviser.
All communications with us may be monitored/recorded to improve the quality of service and for your protection and security.

Fees
An arrangement fee may apply to a product. Please refer to individual product details. Where applicable this fee will normally be added to the loan or can be paid when the loan is advanced. Adding the fee to the loan will slightly increase your monthly mortgage payments. Arrangement fees on 100% products must be paid on completion of the mortgage and cannot be added to the loan. With every residential mortgage a one-off fee of £25 is payable where buildings insurance is not arranged through the Society.

Early Repayment Charges
An Early Repayment Charge may apply to a product. Please refer to individual product details. As an example, a 4% Early Repayment Charge for a capital repayment of £1,000 would be £40, or for the full repayment of a £90,000 loan this would be £3,600. This charge also applies when switching products. If the loan is repaid early an additional Early Repayment Charge (early closure administration fee), currently £199, will be payable.

Dunfermline Building Societys Standard Variable Rate (SVR)
Our Standard Variable Rate is currently 5.49%.

Annual Percentage Rate (APR)
This is a figure which all lenders must quote when referring to mortgages. It is designed to show the total yearly cost of a mortgage stated as a percentage of the loan. It includes items such as the the interest rate paid at the start of the mortgage, application fee, valuation fee and other charges commonly paid at the end of a mortgage. It is the overall cost for comparison purposes. This figure is intended to help customers to compare the overall cost of different loans.

Higher Lending Charge (HLC)
A higher lending charge is payable where the loan is greater than 80% of the purchase price or valuation, whichever is the lower. Where the loan is between 80% and 90% of the lower of the purchase price or valuation and meets our lending criteria, the higher lending charge is paid by the Society.

Cashback
In some instances there may be a cashback option available. This is payable after you have made your first monthly payment. Please refer to individual product details.

Valuation Fees
The Society requires a valuation. Where this is carried out on behalf of the Society, it will be for the Societys purposes only. You will be responsible for the cost of the valuation and the Societys administration fee. The following fees apply:

Valuation	Up to £50,000		£50,001 to £100,000		£100,001 to £150,000		£150,001 to £250,000		£250,001 to £350,000		£350,001 to £500,000
Valuation type	V	H	V	H	V	H	V	H	V	H	V	H
Valuation fee	£110	£275	£140	£350	£175	£425	£235	£505	£300.01	£600.63	£400.88	£741.63
Admin fee	£75	£75	£75	£75	£75	£75	£75	£75	£75	£75	£75	£75
TOTAL COST	£185	£350	£215	£425	£250	£500	£310	£580	£376.01	£675.63	£475.88	£816.63

V = Valuation Report, H = Homebuyers Report** Fee applicable in Scotland only.

NOTE: For properties valued over £500,000, valuation fees are by arrangement. Fees are less in the case of further advances and may be less for remortgages. Where re-inspection is required, an additional but reduced fee is payable each time. Please ask our staff for details. Refer to the booklet 'A Guide to Your Mortgage' for full details of the types of valuation. In some instances a free valuation may be applicable (if a free valuation is applicable and you choose to arrange the valuation yourself we will pay £80 to help with the cost.) Please refer to individual product details.

Bank of England (BoE) Base Rate - (BBR)
The Bank of England base rate is variable and is currently 2.00%.

10% Overpayment Facility
You can make a one off annual lump sum payment of up to 10% of the original loan amount without incurring an early repayment charge during the term of the mortgage product. Any such overpayment must be for a minimum amount of £500, over and above the monthly mortgage payment, and can only be made during the month of January. The amount you owe and the interest you will pay will be reduced immediately. If you repay more than 10% of the original loan amount early repayment charges will apply to the excess amount. If you wish to make a lump sum payment please make us aware of this at that time.

Moving property
You can move home and keep this mortgage with us without paying the Early Repayment Charge (the early closure administration fee still applies) provided that your outstanding mortgage is greater than £20,000 at the time that you move and that all other terms and conditions of this mortgage are met. If you do not transfer the whole of your outstanding mortgage to your new property, then you will have to pay any early repayment charge that is due on the balance not transferred.

Lending guide - (basic information only - mortgage applications are subject to full lending criteria)

Product type	Standard Product	Standard Variable Rate	Shared Ownership
Minimum Loan	£20,000	£20,000	£5,000
Availability	Scotland	Scotland	Scotland
Maximum Loan	£500,000	£500,000	£100,000
Maximum Loan to Value	80%	80%	80%
Minimum Age	18	18	21
Maximum Age	In normal cases loans must be repaid by retiral age. Mortgage terms beyond this age may be considered in appropriate circumstances.

Governing law and language
Unless we agree otherwise with you in our mortgage deed, our relationship with you will be governed by the law of Scotland. We will communicate with you in English. Our mortgage products are available to UK residents only.

Other important information
Please read 'A Guide to Your Mortgage' and the 'Mortgage Tariff' in conjunction with this information. These contain important terms and conditions which affect your mortgage. All the above documents are available from Dunfermline Direct and every branch of the Society.

Mortgages are secured on property. Written quotations on request. Mortgage subject to an appraisal of financial standing and a minimum age of 18. Dunfermline Building Society introduces only to Norwich Union Marketing Group, members of which are authorised and regulated by the Financial Services Authority. The Society provides Income Protection and General Insurance products, underwritten by AXA Insurance plc which is authorised by the Financial Services Authority (FSA) . The Society is authorised and regulated by the FSA (Reg no: 158765), and is a member of the Building Societies Association and Council of Mortgage Lenders. It subscribes to the Banking Code, a copy of which is available on request.

Dunfermline Direct is a trading name of Dunfermline Building Society.