The three-year product is fixed at 4.44% and the five-year at 4.74%. The products also allow borrowers to keep their long-term options open. An early repayment charge is only made within the fixed rate period, and even then borrowers can repay up to 25% of the loan without charge at any time, subject to conditions.
The three-year fixed has the added benefit of a discount of 0.50% for a further two years after the initial three-year fixed-rate period. Both rates automatically qualify for the Stroud and Swindon loyalty discount after five years. The mortgage is available for house purchase or remortgage, and has the added benefit of free valuation fees. As an added bonus, legal fees are paid for those wishing to switch lenders. The society will also pay the excess advance fee for loans up to 95% of the value of the property, making it an attractive option for borrowers who have a smaller deposit and first-time buyers in particular.
