Term | 2 years |
Initial Rate1 | 6.09% variable |
Overall Cost For Comparison2 | 8.9% APRC |
MAX LTV3 | 75% |
Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
Product Fees | £199 application fee, 1% completion fee |
A £1,000 Completion Fee added to the loan amount would increase in value over the term of the mortgage and an illustrative example is provided below based on a static rate over a 10, 15 or 25 year term.
Fee Amount |
Rate |
Value of the fee with interest at 10 years |
Value of the fee with interest at 15 years |
Value of the fee with interest at 25 years |
£1,000 | 8.89% | £1,889.00 | £2,333.50 | £3,222.50 |
Term | 2 years |
Initial Rate1 | 6.39% variable |
Overall Cost For Comparison2 | 8.8% APRC |
MAX LTV3 | 75% |
Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
Product Fees | None |
A mortgage of £97,500.00 payable over 25 years initially on a variable rate, currently 6.39% for 2 years and then on our current standard variable rate of 8.89% for the remaining 23 years would require 23 monthly payments of £519.19 and 276 monthly payments of £722.37; plus one initial interest payment of £512.08.
The total amount payable would be £309,901.57 made up of the loan amount, plus interest and fee(s) totalling £212,401.57. This includes Legal Fees (£255), Valuation Fee (£169), Chaps Fee (£25) and Redemption Administration Fee (£125).
The overall cost for comparison is 8.8% APRC representative.
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Your home may be repossessed if you do not keep up repayments on your mortgage
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