DECLARATION

I/We understand that there is an early repayment penalty that applies to redeeming my/our current mortgage product early.

I/We confirm that I/we understand and accept that I/we are going onto a mortgage product with a higher interest rate.

I/We can confirm that I/we will pay the early repayment penalty and understand that neither my/our adviser nor Number One Mortgages Ltd knows if mortgage interest rates will change and if they do, by how much. This may mean I/we may be on a product that costs more than if I/we had applied for a new mortgage product at a later stage.

I/We understand and accept that I/we may NOT recoup any or all of the penalty from potential savings I/we may make on my/our new mortgage product should interest rates change.

I/We understand that if I/we have chosen to add the early repayment penalty to the mortgage that interest will be applied on these costs for the life of the loan, which would NOT apply if I/we pay the early repayment penalty upfront.

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