Cumberland Building Society Fixed 1.89% until 01/10/2022
Assumed borrowing of £125,000 over 25 years, representative 3.5% APRC. Total amount payable: £187,531.90. Includes interest of £61,537.90, Valuation fee of £295, Booking fee of £0 and Administration fee of £699. Repayments: 60 monthly repayments of £523.15 at 1.89% (fixed), then 240 monthly repayments of £646.45 at 4.24% (variable).
Cumberland Building Society customer satisfaction scorecard:
How do we work this out?| Clarity of statements | Flexibility of payments | Transparency of charges | Customer service | Overall customer score |
Not rated |
Eligibility
| Maximum age | N/A |
|---|---|
| Minimum age | 18 |
| Location | England, Wales, Scotland |
| Restricted location note | Only available to customers who live within Cumberland's branch operating area. |
| Existing customer note | N/A |
| Eligibility notes | N/A |
Mortgage product details
| Mortgage types | Purchase, First time buyer |
|---|---|
| Deal type | Fixed |
| Tracker type | N/A |
| Payment options | Repayment |
Mortgage product features
| Overpayments allowed | Yes |
|---|---|
| Overpayment limits note | Up to 10% per annum each financial year |
| Offset mortgage | No |
| Help to Buy mortgage | No |
| Shared ownership mortgage | No |
| Shared equity mortgage | No |
| New-build mortgage | No |
| Self-build mortgage | No |
| Portable mortgage | Yes |
Product fees
| Arrangement fee | £699 |
|---|---|
| Arrangement fee can be added to loan | Yes |
| Booking fee | £0 |
| Telegraphic transfer fee | £25 |
| Insurance fee | £25 |
| Other fees | £0 |
Rate information
| Minimum borrowing amount | £20,000 |
|---|---|
| Maximum borrowing amount | £500,000 |
| Minimum term (years) | 2 |
| Maximum term (years) | 40 |
| Initial deal end date | 01.10.22 |
| Initial deal length (months) | 60 |
| APRC | 3.49% |
| Initial rate | 1.89% |
| Revert-to rate | 4.24% |
| Maximum LTV | 75.0% |
Other charges
| Exit fees | £170 |
|---|---|
| Valuation admin fee | £0 |
| Valuation fee | From £205 for property value above £50,000 |
| Early repayment note | 5% then 4% then 3% then 2% until end of fixed period |
Standard benefits
| Valuation admin fee excluded from any refund offer | Yes |
|---|---|
| Maximum free valuation | £0 |
| Cash back amount | £100 |
| Further notes about benefits | £100 cashback if you have a Cumberland current account or switch your main current account to the Cumberland - conditions apply. |
Remortgage benefits
| Cash back on legal fees | No |
|---|---|
| Free legal work | No |
| Valuation offer | Payable |
Purchase mortgage benefits
| Cash back on legal fees | No |
|---|---|
| Free legal work | No |
| Valuation offer | Payable |