Mortgages

Maximum advance

The maximum advance available for this product is 90% of the purchase price or valuation of the property (whichever is the lower). Our guides section will tell you how much you can borrow against your income.

Higher lending charge (HLC)

If your loan is over 75% of the current value of the property, a higher lending charge will apply, however the society will cover the cost of this for you.

Switching your mortgage to Britannia

If you are moving your mortgage from another lender to Britannia, you will be unable to move only part of your mortgage and leave a remaining balance with your current lender. You will either need to move your outstanding balance in full or pay off a percentage of the balance and move the remainder.

Conveyancing Service for Remortgage Customers

Britannia can provide a remortgage conveyancing service for £180 plus disbursements. This is provided through our approved panel conveyancer.

If you are remortgaging using our reduced fee options:
Britannia will cover the legal fees for moving your mortgage to Britannia, including compulsory disbursements.

Should you decide not to proceed with your remortgage package application, the Society will be entitled to recover from you any costs that have been incurred as a result of your application such as valuation fees and solicitors' fees.

Early repayment charge - 10 Year Fixed Rate Mortgage

If you repay your mortgage in full or part by capital repayment, or transfer to another product within the first 10 years, the following early repayment charge will apply. This will be calculated as a percentage of the amount that you repay early.

• Year 1: 13%
• Year 2: 11%
• Year 3: 10%
• Year 4: 9%
• Year 5: 8%
• Year 6: 6%
• Year 7: 5%
• Year 8: 4%
• Year 9: 3%
• Year 10: 2%

Loan to Value for new build properties

In most cases, you can borrow up to 90% of the purchase price or valuation for the property. However, for houses and bungalows built within 24 months of the date of your application, the maximum Loan to Value (LTV) is 85%

Please note that we will not accept any applications for flats, apartments or maisonettes built or converted within the past 24 months.

A redemption discharge fee of £125 is payable if you repay the loan before the end of the mortgage term. If your loan is made up of more than one part, called sub-accounts, the fee of £125 is payable each time you repay a sub-account unless more than one sub-account is repaid at the same time, when a single fee of £125 is payable.

In addition, a deeds release fee of £35 is payable if your loan (all sub-accounts) is repaid early.