7.5% Cashback Mortgage to be launched
Please note this product is no longer available to view our range of mortgage go to our mortgages page
Stroud & Swindon Building Society is to launch a new 7.5% Cashback Mortgage on 25 July 2005.
Product details include:-
One off cash repayment of 7.5% of the loan amount paid within 14 days of completion
Funds can be used for any purpose
Interest rate payable will be the Society’s SVR currently 6.79%
£395 completion fee
No Higher Lending Charge payable by the borrowers
Remortgages : Free valuation (up to £600,000) and free basic legal fees
Early Repayment Charges (percentage of the original loan amount) apply until 31/10/2011 as follows:-
7.5% until 31/10/2006
then 7% until 31/10/2007
then 6% until 31/10/2008
then 5% until 31/10/2009
then 4% until 31/10/2010
then 2% until 31/10/2011
Available through all distribution channels.
Commenting on the new product, Elaine Thomas, Mortgage Product Manager said, "This new mortgage provides a cashback sum that can be used for any purpose and will therefore appeal particularly to those people seeking a timely cash boost for home improvements, new furnishings for a new home or even for repaying existing loans."
-ends-
For more information, please contact:-
David Greenleaf, Corporate Communications Manager, telephone 01453 768244
Stroud & Swindon is the 15th largest building society in the UK with assets in excess of £2.3 billion. It operates through a network of 22 branches in the South West, its own Direct call centre based in Stroud (telephone 0845 25 24 23) and a team of business development managers servicing intermediaries.