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Three Month or One-Year Standard Variable Interest Rate Mortgage 

 Three Month or One-Year Standard Variable Interest Rate Mortgage 

 

 

Suitable for most projects this mortgage has the particularity of starting out at a fixed rate and becoming variable. For the three month version, the first three months are at a fixed rate. At the end of the first quarter, the rate is reviewed and revised quarterly thereafter. However, the monthly instalments remain the same throughout the remaining term of the loan(*). The same goes for the one year version except that the rate is reviewed and revised annually(*).

 

Plus point

  • The term of this mortgage is from 7 to 30 years.
  • You can borrow up to 85% of the property value.
  • Early capital repayments are possible at any time(*).

Advantages:

  • The flexibility of variable rate mortgage but security at the same time. The first period is secured by a fixed interest rate after which repayments remain constant.
  • You will not pay any penalties in the case of early repayment.
  • A deferred payment period is possible up to 36 months

BNP Paribas International Buyers - Our Difference:

  • You can pay back capital at any time, in minimum amounts of 10% of the original capital borrowed(*).
  • It is always possible to switch to a fixed rate at any time, just ask.
  • After the first year of repayment, you are free to change the amount of your monthly instalment.
(*) Subject to conditions. Please contact your Mortgage Adviser for further information.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT.
 

BNP Paribas International Buyers is a business line of BNP Paribas Personal Finance.
BNP Paribas Personal Finance - Credit institution – Société Anonyme incorporated under French law with a share capital of 435 903 804 euros - 542 097 902 RCS Paris -
Head office: 1 bd Haussmann, 75009 PARIS Insurance Intermediary (N° ORIAS : 07 023 128) Insurer(s): CNP Assurances and CNP IAM