Shared Ownership Mortgages from UK - Kent Reliance Building Society

Further advance available to existing Kent Reliance borrowers to help fund works and materials to make residential property more environmentally friendly

Tracks the Bank of England Base Rate (plus 1%)
for the life of the mortgage 6.00% (variable)

Rate correct as at 1 May 2008

Why choose a ‘green mortgage’?
	Loan to value
	Maximum loan to value – 75%
	Fees
	Administration fee of 1% (minimum of £70, maximum £150).
	Interest charged
	Monthly
	Early repayment charge
	None

	What happens if you move house?
	The balance of your green mortgage may be transferred to your new property (subject to our lending criteria at the time of any future move) Any additional green loan will only be available for projects to make your new home more environmentally friendly and will be subject to interest rates available at the time of the move.
	Notes
	Monthly
	The Green tracker rate is a variable rate linked to the Bank of England Base Rate plus 1%.
	The Bank of England Base Rate is currently 5.00%.
	The administration fee and re-inspection fee (if applicable) may be paid on application or added to the loan (up to a maximum loan to value of 75%).
	Other fees and charges may apply during the term of the mortgage.
	The Green mortgage is only available to existing Kent Reliance borrowers.

To calculate a typical loan example we have made the following assumptions:

	A Green base rate tracker rate of 6.00% (variable) throughout the term of the mortgage
	A loan of £10,000 over a 15 year term repayable by 180 monthly payments of capital and interest
	Administration fee - £100
	Re-inspection fee - £75

Typical loan example
Monthly mortgage payments (180 months)	£84.39
Total charge for credit	£5,365
Total amount payable (TAP)	£15,365
The overall cost for comparison	6.5% APR (variable)
Correct as at 1 May 2008