Danske Re:pay

Danske Re:pay

Combine your everyday banking requirements & mortgage accounts, making your money work harder for you.​​

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  • Available to both new & existing customers
  • Save on interest charges & pay off your mortgage early
  • No higher lending charge

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Details

The all-in-one account allowing you to combine your everyday personal banking requirements incorporating your current account, overdraft, savings, personal loans and mortgage - whether you’re purchasing a home, looking to remortgage or simply wanting to borrow some extra money.

You can draw funds out of your account at any time, at the same rate as your mortgage.

A built in Safety Limit helps you stay in control and detailed monthly statements help you manage your finances.

The rate of interest is variable for the full term of the loan meaning that if rates increase or fall, your Safety Limit will be recalculated to reflect the change.

Minimum loan amount £50,000
Minimum house valuation £200,000
Choose any repayment up to 30 years

Get help with costs - we offer a cashback incentive for First Time Buyers, Home Movers and new to bank Switchers. 

Please refer to the Representative Example, Mortgage Rates and Conditions​ below for more important information.

 

 

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Representative Example​

Total amount borrowed £228,000
Mortgage Term 18 years
Rate of interest 3.39% variable
Monthly repayment amount £1,410.93
Number of monthly repayments 216
Frequency of repayments Monthly
Total Amount payable £304,758.07
Product Fee £0
The overall cost for comparison 3.5% APRC

The actual rate will depend on your circumstances, please ask for a personalised illustration.

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Mortgage Rates

Rates correct as at 14th August 2017.

The interest rate tier which will apply to your Danske Re:pay mortgage account depends on the amount of the original loan and is variable, as shown in the table below. The interest rate tier charged will continue to be the rate that applies to the original loan amount (even when the amount you owe reduces over time) until you have paid off the mortgage in full. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. View all mortgage interest rates.

Original loan amount  Current per annum Overall Cost for comparison APRC Product Fee
Danske Re:pay - Variable Rate
£50,000 - £99,999 3.94 4.1 £0
£100,000 - £149,999  3.69 3.8 £0
£150,000 - £199,999 3.39 3.5 £0

£200,000+

3.39 3.5 £0
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Conditions

  • An independent professional valuation will be required for purchases and remortgage applications. If you are an existing Danske Bank mortgage customer switching products, you will not normally require a professional valuation. These fees/costs are charged by the surveyor directly to you and vary from application to application. For full details on charges please see our Tariff of Mortgage Charges.
  • ​Whether we provide credit depends on your circumstances, and you must be 18 or over. Lending terms and conditions apply.
  • Your home is security for your mortgage. You may need to provide other security.
  • Choose from fortnightly or monthly repayments.
  • You must operate your Danske Re:pay mortgage account as your main current account.
  • Your salary must be paid into the Danske Re:pay account.
  • Your Danske Re:pay account cannot be used for business purposes.
  • Maximum Loan​ to Val​ue 85% (based on the lower of the purchase price or valuation).
  • Minimum house valuation of £200,000 applies.
  • Minimum loan amount £50,000.
  • Repayment terms of up to 30 years. You will be required to provide us with evidence of affordability in retirement if the mortgage term takes you beyond normal retirement age.
  • The bank only provides mortgages in sterling and will not consider Danske Re:pay applications where the applicant's income is in another currency.
  • You will be advised of the reduction in the safety limit on your monthly statement. The reduction in the safety limit could vary each month.
  • When the balance on this account is overdrawn, it is not covered by the Financial Services Compensation Scheme (FSCS).
  • We do not permit a third party to take a second charge or acquire an interest in your property when you have a Danske Re:pay mortgage.
  • This is not a portable mortgage.
  • If you have a mortgage, you must have adequate buildings insurance in place. You do not have to arrange this through us.
  • No higher lending charges apply, but other fees and charges such as legal fees may apply which are not charged by us or paid through us.
  • Available to both new & existing customers.
  • Get help with costs - find out more about our Cashback Incentive Scheme for First Time Buyers, Home Movers and Switchers.
  • Other special conditions may apply and will be detailed in the General Offer Conditions, please ask for a copy.
  • If you choose Danske Re:pay, meeting the terms and conditions of your mortgage contract does not ensure repayment of the total amount of credit.


Important information

Fees & service charges explained *Interest rates PDF

When you take out a mortgage you are borrowing against the value of your home. When you come to sell your home you will need to use the sale's proceeds to repay your outstanding mortgage balance. Be aware that if the value of your home falls below the balance of your mortgage, then you will have to pay us the difference if you want to sell your home. Other security may be required.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESED IF YOU DO NOT KEEP UP REPAYMENTS ON A MO​​RTGAGE OR ANY OTHER DEBT SECURED ON IT.

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