Variable Rate Marine Mortgages

A variable rate marine mortgage is linked to Finance House Base Rate (FHBR) and your repayments will go up and down in line with interest rate fluctuations. With variable rate mortgages, lump sum repayments can be made at any time during the agreement with no penalty. The lump sum payment is credited to your account on the day that it is received and from that date the daily interest charge is calculated on the lower balance.

Balanced Payment Plan

The Balanced Payment Plan mortgage is one of the most popular facilities available. Linked to Finance House Base Rate (FHBR), the monthly repayments remain fixed through the period of the agreement. The estimated term of the agreement will vary according to fluctuations in the interest rate. Lombard is able to offer this facility in both Euro and US Dollars, with these facilities being linked to one month Euro LIBOR (London Inter Bank Offer Rate) and one month US Dollar LIBOR respectively. Borrowing in Euro or Dollars can be particularly favourable should you have an income in these currencies, as there is no exchange rate risk.

Low Start Mortgage / Interest Only Mortgage

With a Lombard Low Start Mortgage the monthly repayments are lower in the first 3 years of the agreement. The monthly repayments are increased slightly on an annual basis to ensure full repayment over the agreed term. Alternatively, an interest only period can be considered. Your payments will cover the cost of interest only for a certain period - for example 12 months, with the facility then reverting to capital and interest repayments for the remaining term

Personalised Packages

Depending on the level of borrowing, Lombard can consider: Structured Repayment mortgages that are tailored to individual requirements; a Balloon Payment mortgage, or a 15 year Annual Review mortgage where the monthly repayments are reviewed on an annual basis and increased/decreased in line with Finance House Base Rate fluctuations.

What are the benefits of Mortgage Protector & Mortgage Protector Plus?

• Available on all Lombard marine mortgages, where the period is up to 10 years
• The balance of the agreement is settled in the event of death
• No medical required (if less than £100,000 financed or where the monthly repayment is less than £1,000)
• Monthly repayments made in the event of unemployment, accident or sickness (Mortgage Protector Plus only)
• Peace of mind

Eligibility

We require that you are aged over 18 and under 60 years at the commencement date, that you work and reside in the United Kingdom, Channel Islands or Isle of Man for 12 months prior to the commencement of the agreement

How to arrange cover

Simply complete the box on the finance agreement. Cover can be arrange to coincide with the start of the agreement.

Contact Lombard for full details and General Conditions

Lombard Marine is a trading style of Lombard North Central Plc, which is an appointed representative of The Royal Bank of Scotland plc, which is authorised and regulated by the Financial Services Authority