Tracker Rate Mortgage - '(with effect from 1 March 2010)'

Do you prefer a mortgage with an interest rate that follows Reliance Bank Base rate?

Features & Benefits

• For the first five years of your mortgage we offer 2.25% above Reliance Bank Base rate, (0.50%) - subject to a minimum rate of 3.75%. Then changing to our Home Mortgage Rate for the rest of the mortgage term, currently 3.75%
• Overall cost for comparison 3.8% APR
• No arrangement fee
• Free standard mortgage valuation up to £250
• First Time Buyers Only - applications for loans in excess of 75% Loan to Value may be considered
• For residential house purchases the maximum loan is 75% of the value of the property. Minimum deposit 25%
• In the event of the mortgage being repaid in full within the first year, a 2% penalty is applied to the outstanding balance. In years 2 to 5, a penalty of 1% of the outstanding balance is applied
• Not available to existing Reliance Bank borrowers unless moving house
• After the Tracker period has finished, you have the option each year of making an overpayment up to 10% of your outstanding mortgage, (minimum £1,000). The cost of this is a 2% fee on the partial repayment being made.

* Please note that if Reliance Base Rate falls below 1.50% during the first five years of your mortgage term, the interest rate would not reduce lower than 3.75%.

Additional features of all Reliance Bank Mortgages

• Interest is calculated daily
• No higher lending charge
• Don’t have to bank with Reliance Bank to apply
• Personal service and management through to completion

Try our mortgage calculator to give you an idea of your monthly repayments

Try Our Loan Calculator

For additional information click [here]

Interested?.... call us on 020 7398 5440 or alternatively print all of the documents listed below.

Reliance Bank reserves the right to withdraw products or amend rates accordingly at any time. Our website is updated and monitored on a daily basis.