Heritable Bank is not currently accepting new mortgage applications. This does not affect existing mortgages. If you are an existing mortgage customer of the bank and wish to discuss your mortgage please call us on 020 7518 4224.
Early Repayment Charge Waivers
Heritable Bank is unable to offer any further lending, now or in the future. Furthermore for customers currently on a fixed, discount or lock-in rate you will need to be aware that we are unlikely to offer any new follow-on products going forward so you will either revert to or remain on the Standard Variable Rate (SVR).
As a result customers may wish to review their mortgages with us by either remortgaging to another lender or selling a property. However, we acknowledge that under the terms of the mortgage contract you may be required to pay an Early Repayment Charge (ERC) if you redeem all, or part, of your mortgage.
If you are currently on a fixed or discount rate mortgage or have a lock-in product we would therefore like to offer to waive your ERC if you redeem all or part of your mortgage before 31st May 2009 (this excludes Short Term Lending accounts).
It may be in your interest to return to the financial adviser who originally acted for you, if this is still appropriate. If this is not the best way forward we recommend you visit an Independent Financial Advisor to discuss your options, in this matter.
Important information
This offer to waive payment of any ERC will only apply to the actual amount of any capital repayment or to mortgages redeemed between now and 31st May 2009 . There are no other changes to the terms and conditions of your mortgage. Any capital repayment or redemption after 31st May 2009 will attract the ERC terms stated within your Mortgage Offer document.
Current Interest Rates
With effect from the 1st March 2009 Heritable Bank has reduced the Standard Variable Mortgage Rate by a further 0.25% to 4.74% (4.49% for customers on our Status product). For those customers with a Standard Variable Mortgage the effect of the decrease will be seen in your April 2009 payment.
Letters to all customers who are affected by this change will be issued during the week beginning 2nd March 2009.
The LIBOR mortgages rate was set at 1.18% with effect from 1st July 2009. For those customers with a LIBOR mortgage the effect of the decrease will be seen in your August 2009 payment.
Letters to all customers who are affected by this change will be issued from the 2nd July 2009.
Please click here for further information on rates effective from the 1st July 2009.
Payment Difficulties
If you are having difficulty keeping up with your mortgage payments please contact us at the earliest opportunity.
What can I do?
We're always here to talk to you about any questions or concerns you may have - just call us on 020 7518 4224
Please note: Heritable Bank does not give advice about which mortgage is most suitable for you. We recommend that you contact your financial adviser if you need guidance on this. If you would like to find details of independent financial advisers in your area please visit www.unbiased.co.uk
Ways to Pay
Please make any outstanding payments by either of the following methods:
1. By cheque sent to Heritable Bank Plc (In Administration), 8 Hill Street, Berkeley Square, London, W1J 5NG. Please ensure that your cheque is made payable to 'Heritable Bank Plc (In Administration)' and that you provide your mortgage account number on the reverse of the cheque.
2. By bank transfer to our bank account, quoting the reference below. Our bank details are:
Bank: HSBC
Account Name: Heritable Bank Plc (In Administration)
Sort code: 40-05-15
Account number: 67850373
Reference: Please insert your mortgage account number
We are unable to accept debit or credit card payments at this time.