Island Mortgage Account Interest Rates

Current Interest Rates

Interest rates are correct as from 19 May 2010

% APR*
Standard Variable Rate 2.50% 2.50%

Fixed Rate Mortgages

Fixed rate offers
Up to 75% LTV (loan to value)		 Fixed rate offers
Up to 90% LTV (loan to value)*		 Commitment fee
2 Year Fixed 3.99%
(APR 5.1%) 		2 Year Fixed 5.29%
(APR 6.5%) 		£799
3 Year Fixed 4.59%
(APR 5.4%) 		3 Year Fixed 5.59%
(APR 6.5%) 		£799
5 Year Fixed 5.29%
(APR 5.9%) 		5 Year Fixed 5.99%
(APR 6.6%) 		£799

From the date after expiry of the fixed term you pay interest at the Lloyds TSB Offshore Banking Mortgage Rate, which is variable. The commitment fee shown is payable before we formally offer a mortgage to you. This will be refunded to first-time buyers on completion. You must be 18 or over to apply. The APR (Annual Percentage Rate) shown is typical for a mortgage of £40,000 over 25 years. All fixed rate offers must be drawn down by 30th September 2010.
*LTV of 90% is only available to Island Premier account holders. 85% for First Time Buyers and up 80% for other borrowers.

Tracker Mortgages

Type of Tracker Loan to value Margin Interest rate 19 May 2010
Short term Tracker
(September 2014)		 Up to 75% LTV
(Loan to value).		 2.69% above Base Rate 3.19% (APR 3.9%)
Short term Tracker
(September 2014)		 Up to 90% LTV*
(Loan to value).		 3.99% above Base Rate 4.49% (APR 5.3%)

Interest rates are variable. With a tracker mortgage, the interest rate will be linked to the Bank of England's Base Rate. The rate will be recalculated within one month following any change in the Base Rate. From the date after expiry of the term of the tracker (if any), you pay interest at the Lloyds TSB Offshore Banking Mortgage Rate, which is variable. An arrangement fee of £999 is payable for the 'short term' tracker.
*A higher interest rate (as shown) will be charged if the mortgage amount is greater than 75% of the purchase price or valuation (whichever is the lower).
*LTV of 90% is only available to Island Premier account holders. 85% for First Time Buyers and up 80% for other borrowers.