What are my interest rate options?

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

• 2.845% fixed for up to 25 years (APR 2.88%)*
• 2.945% fixed for up to 30 years (APR 2.99%)*

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

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.

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.

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