General Information for Regulated Mortgages

Address Our registered address is: Platform P.O. Box 3462 Cheadle Road Leek ST13 9BG DX 16351 (Leek)

Mortgage purpose We offer mortgages for the following purposes:  Purchase of a residential property.  Purchase of a buy to let property.  Remortgage of a residential property.  Remortgage of a buy to let property.  To pay for home improvements or repairs to your property.  To purchase the equity of another party to the mortgage, or to add on a new party to an existing mortgage.  To raise capital, not to be used for speculative, or business purpose.

Acceptable forms of security Our mortgages must be secured, by way of a first legal charge (or first ranking standard security in Scotland), on your residential property. This property must be in England, Wales, Scotland or Northern Ireland.

Contract duration Our mortgages are available from 5 to 40 years, subject to approval. They are not available beyond your 75th birthday. If your required mortgage term takes you beyond your intended retirement age, we will need to assess your post-retirement income. It is your responsibility to make sure you can afford your mortgage payments throughout the term of your mortgage.

Types of borrowing rates available  Fixed rate mortgages: The interest rate on a fixed rate mortgage will not change for an agreed period. During this time, because your interest rate is fixed, your payments will not change. Fixed rates typically have an early repayment charge – this will be confirmed in your Mortgage Illustration.  Tracker rate mortgages: The interest rate on a tracker mortgage is variable and linked to a reference rate, such as the Bank of England Base Rate or LIBOR (the “Linked Rate”) for an agreed period – this can be a margin above or below the Linked Rate. If the Linked Rate increases or decreases, your interest rate will also change by the same amount. This means your payments can increase or decrease.  Standard Variable Rate (SVR) mortgages: SVR is the rate which we charge when you have not made another arrangement with us – for example, if your fixed or tracker rate has come to an end. This rate is set by us, is not tied to any other reference rate, and we can change this at our own discretion. Variable rate mortgages can increase significantly, meaning your monthly payments will also increase. Our variable rates have no upper limit to how high the rate can become. You will need to ensure that you can afford any potential increases in your payments if you select a variable rate product. You should also consider the potential increase in your payments at the end of any fixed rate period.

Foreign currency We do not offer foreign currency loans for purchase or remortgage. We define a foreign currency loan to be one where you either:  receive income in a currency other than Sterling, or  hold assets in a currency other than Sterling and intend to use either of these to repay or otherwise support your mortgage.

Representative example A mortgage of £191,327.42 taken for a term of 16 years and 2 months on a fixed rate of 1.44% for 2 years, reverting to our variable rate of 4.99% (variable) for the remaining 14 years and 2 months would require 24 monthly payments of £1,106.06 followed by 170 payments of £1,396.75. The total amount payable would be £265,291.61 made up of the loan amount plus interest £72,665.19, a product fee of £1,249 and a title management fee of £50. The overall cost for comparison is 4.3% APRC.

583235_CBG_MKT90920.indd 1 17/06/2019 10:49 583235_CBG_MKT90920.indd 2 Information correct asat06/2019. subscribes totheStandards ofLendingPractice whichare monitored by theLending Standards Board. subject tostatus andourlendingpolicy.TheBankreserves therighttodecline any application for anaccount orcredit facility. TheCo-operative Bankp.l.c. 1 BalloonStreet, Manchester M604EP.Registered inEnglandandWales No.990937.Credit facilities are provided by TheCo-operative Bankp.l.c.andare Regulation Authority(No.121885).TheCo-operative Bank,Platform, smileandBritannia are trading namesofTheCo-operative Bankp.l.c.,P.O.Box 101, The Co-operative Bankp.l.c.isauthorisedby thePrudential Regulation Authorityandregulated by theFinancial Conduct AuthorityandthePrudential In theevent ofsevere breaches ofyour obligations, theultimate consequencemay belegal action totake possessionofyour property. obligations there may beadditionalcostsoryour credit score may beaffected, makingitmore difficultto obtain creditinthe future. For leaseholdproperties ensuringthatapplicable Ground Rent andServiceCharge payments are maintained. Where you fail tomeetthese    We expect you tocomplywiththeterms andconditionsofyour mortgage, includingbutnotlimited to: Complying withtheterms andconditions rate isreviewed quarterly andany changestotherate may result inchangestoyour monthly payment. LIBOR isadministered by ICEBenchmarkAdministration whichisauthorisedandregulated by theFinancial Conduct Authority.TheLIBOR LIBOR Loans Illustration andannualstatement for further information. You are abletorepay your mortgage atany time;however, pleasebeaware thatearlyrepayment charges may apply.Pleaserefer toyour Early Repayment Charges You donothave totake thisinsurance outthrough orwithus. For allothercases, thismustbeinplacenolater thancompletionofthemortgage. For purchases, except thoseinScotland,thisinsurance mustbeginnolater thanexchange ofcontract. You willneedtohave suitable buildingsinsurance inplacefor your property for theduration ofyour mortgage. Additional obligations If you wishtohave amore detailed valuation carried outfor your own use,thiscan alsobearranged. the suitability orresale value oftheproperty. This valuation willbefor ouruseindecidingifyour property offers ussuitable security for your mortgage. You shouldnot rely onittoconfirm The valuation mustbecarried outby avaluer instructed by us.There may beafee for this,payable tothevaluation company. A valuation may berequired for your mortgage, andany variation toit. Property valuations    change inlinewiththesection ofthisdocument called “Types ofborrowing rates available”. we release your mortgage funds totheendofmonth plusthenormalmonthly mortgage payment. Your mortgage payments may mortgage inyour completion statement. Your firstpayment isoften higherthana regular payment, asitwillincludeinterest from the day You willneed topay your mortgage onamonthly basisby Direct Debit.We willconfirm your mortgage payments atthestart of your Repayment ofyour mortgage You may have topay othertaxes orcostsinadditiontoany fees includedinthetotal costoftheloan. In certain situations,we willcover thebasiccostofremortgaging aproperty tous. the property, thecostfor whichwillbehigher. We may alsorequire theproperty tobevalued by ourapproved valuer, atyour cost.You may wishtoinstruct amore thorough inspection of or conveyancer willneedtobeonourpanel.Pleasediscussthespecificcostofinstructing your solicitororconveyancer withthemdirectly. A solicitororconveyancer willberequired toact for you, inrespect oftheconveyancing work neededtomortgage your property tous.Your solicitor Possible further costs       Keeping theproperty ingoodrepair. For interest onlymortgages make andkeep toarrangements for repaying thecapital outstanding attheendofterm. Making your monthly payment. Some mortgages have repayment andinterest onlyparts.Theinformation above willapplytotherespective partsofyour mortgage. “Part andpart” of theterm, you couldloseyour home. suitable repayment vehicle inplacetorepay themortgage attheendofterm. Ifyou cannot repay themortgage attheend that theamount you borrowed isstilloutstanding attheendofmortgage term. If your mortgage isheld onaninterest onlybasis,thenyour monthly payment will Interest onlymortgages: payments infull andontimeyou willhave repaid your mortgage by theendofterm. your monthly payment willpay offanamount ofinterest andalsosomeofthe capital which you have borrowed. Aslongas you make your If your mortgage isheld on arepayment basis(sometimesthisiscalled “capital repayment” or“capital andinterest repayment”), then Repayment mortgages: AS ALASTRESORT, YOUR HOMEMAY BEREPOSSESSEDIFYOU DONOTKEEP UPWITHPAYMENTS

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