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Base Rate Loan Fixed Rate Loan4 Capped Base Rate Loan5 Commercial Fixed Rate Loan4
Interest Rate Varies with Bank of England Bank Rate Can be Fixed for periods from 1 year to the full term of the loan Varies with Bank of England Bank Rate Can be Fixed for periods from 1 year to the full term of the loan
Loan Term 1 to 25 years 1 to 10 years 5 to 25 years 1 to 25 years
Loan Amount £1,000+ £1,000 - £50,000 £50,001 - £500,000
£50,001+
Arrangement Fee Up to 1.5% of the loan amount
Key Features
Rate fluctuates with Bank RateNo early repayment chargesBorrow on a secured or unsecured basis

Capital repayment holidays6

Fixed monthly repaymentsNo early repayment charges for new loansBorrow on a secured or unsecured basis

Capital repayment holidays6

The variable rate payable will not go above a maximum level or “Capped Rate” during the 5 year Capped Rate Period.Below the capped rate the rate will fluctuate with Bank RateBorrow on a secured or unsecured basisBreak Costs payable on early repayment

Capital repayment holidays6

Fixed monthly repaymentsBorrow on a secured or unsecured basisBreak Costs payable on early repayment

Capital repayment holidays6

Important Information

Break Costs are defined at the outset of your loan, giving you certainty around the costs involved should you decide to repay early during the capped rate period. For Commercial Fixed Rate Loans (CFRLs) <£500k Break Costs are defined at the outset of your loan, giving you certainty around the costs involved should

you decide to repay early during the fixed rate period.
For CFRLs >£500k, Break Costs, which are dependant on market conditions, may be payable if a fixed rate loan is fully or partly repaid early and these can be substantial7.

 
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Alternatively, if you would prefer to talk to one of our relationship managers you can call us from 9am to 5pm Monday to Friday.

0800 022 4378

The Bank of England Bank Rate is the official Bank Rate set by the Bank of England which can affect interest rates offered by Banks, Building Societies and other financial institutions. By changing the official Bank Rate, the Bank of England seeks to influence overall borrowing in the economy.

The Bank Rate has been consistently low for a number of years. However as the UK economy improves, the Bank of England is likely to increase the official Bank Rate.

The current Bank of England Bank Rate is 0.25% (effective from 4 August 2016).

Changes in the Bank Rate could affect payments on any accounts you may hold with us, such as loans, overdrafts, commercial mortgages or deposits.


Category: Bank loan

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