What are my interest rate options?

A Local Authority Home Loan offers two fixed interest rate products:

• 4.00% fixed for up to 25 years (APR 4.07%)*
• 4.05% fixed for loans over 25 years and up to 30 years (APR 4.13%)*

* Rates are subject to change. Mortgage rates are set on the date of drawdown of your loan.

With a fixed interest rate product your monthly repayments remain the same for the full fixed rate loan period, making budgeting easier - but during the fixed rate period, you may be liable for a breakage fee if you pay off all or part of your mortgage early.

All rates are exclusive of Mortgage Protection Insurance (MPI) which is a requirement of borrowing. Eligible borrowers are required to partake in the local authority collective MPI scheme. MPI is payable monthly, in addition to loan repayments.

You should seek independent financial advice on which product is most suitable for you.