Self Certification Mortgages from UK - Kent Reliance Building Society

Tracks the Bank of England Base rate
6.75% (variable)

Rate correct as at 1 May 2008
Not available for shared ownership/shared equity

Especially for the self-employed - there is no need to prove your income simply state your income on the application form and sign the declaration.

	Loan to value
	Maximum loan to value - 75%
	Fees
	Valuation fee per scale. Administration fee £60
	Interest charged
	Monthly
	Early repayment charge - None

	What happens at the end of any special offer period?
	After 12 months the rate will revert to the Base rate tracker rate, if the account has been well conducted. However, if the account has not been well conducted interest will be charged at a minimum of 0.5% above the Society’s Standard variable rate.
	What happens if you move house ?
	Our mortgage products are portable. The benefits of your mortgage can be transferred to your new property at any time (subject to our lending criteria at the time of any future move).

Extra features

	No proof of income is required if self-employed
	The interest rate charged will be 1.75% above the Bank of England Base rate. Not available for shared ownership/shared equity
	£25 discount off your first year’s home insurance premium arranged through us (not available for shared ownership/shared equity) – click here for terms and conditions

Notes on self-certification mortgages:

	The interest rate charged will be 1.75% above the Bank of England Base rate for the first 12 months. If, after 12 months, the account has been well conducted, the rate will revert to the Base rate tracker rate for the remainder of the mortgage term
	If the account is not well conducted interest will be charged at a minimum of 0.5% above our Standard variable rate
	No proof of income is required for self-employed applicants on these schemes - just state your earnings on the application form and sign the declaration. You are advised not to overstate earnings as checks will be made. If you give us false or inaccurate information and we suspect fraud, we will record this. The Society and other companies may search these records and use this information if decisions are made about you or others at your address(es) on credit related services or motor, household, mortgage payment protection, life or any other insurance facilities. It may also be used for debt recovery, identity verification, tracing and claims assessments.
	Minimum age is 21

To calculate an APR and typical loan example we have made the following assumptions:

	A rate of 6.75% for the first 12 months
	Base rate tracker rate (currently 6.25% variable) for the remainder of the mortgage term
	A loan of £75,000 over a term of 25 years, repayable by 300 monthly payments of capital and interest
	Purchase or remortgage of a property for owner-occupation valued at £100,000
	Administration fee - £60
	Valuation fee - £125
	CHAPS bank transfer fee - £35
	Solicitors mortgage charges - £103 (purchase - estimated and only part of conveyance costs)

Typical loan example
Initial monthly payments (12 months)	£518.18
Subsequent monthly payments (288 months)	£495.38
Total charge for credit	£74,360
Total amount payable (TAP)	£149,360
The overall cost of comparison is	6.6% APR (variable)
Correct as at 1 May 2008

For more information about our mortgages go to Useful Info/About Our Mortgages

All loans are subject to availability, status, valuation and approval, and are available in England and Wales only. Applicants must be aged over 18 unless otherwise stated and security will be required on property. Written quotations available on request.

Mortgage Payment Protection Insurance may be required and a Higher Lending Charge may be payable. Calls to Kent Reliance Building Society may be recorded and/or monitored for customer service and training purposes.

Kent Reliance Building Society is authorised and regulated by the Financial Services Authority for general insurance and regulated mortgages and is covered by the Financial Ombudsman Service. Kent Reliance Building Society, Reliance House, Sun Pier, Chatham, Kent ME4 4ET.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.