A mortgage of £120,000.00 payable over 25 years initially on a variable rate, currently 3.79% for 2 years and then on our current standard variable rate of 5.99% for the remaining 23 years would require 23 monthly payments of £379.00 and 276 monthly payments of £599.00; plus one initial interest payment of £386.27.

The total amount payable would be £296,425.27 made up of the loan amount, plus interest and fee(s) totalling £176,425.27.  This includes Application Fee (£199), Chaps fee (£25), Completion Fee (£1,200), Valuation Fee (£194), Legal Fees (£255) and Redemption Administration Fee (£125).

The overall cost for comparison is 6.0% APRC representative.

A mortgage of £300,000.00 payable over 23 years initially on a variable rate, currently 3.89% for 3 years and then on our current standard variable rate of 5.99% for the remaining 20 years would require 35 monthly payments of £972.50 and 240 monthly payments of £1,497.41; plus one initial interest payment of £991.15.

The total amount payable would be £697,194.05 made up of the loan amount, plus interest and fee(s) totalling £397,194.05.  This includes Chaps Fee (£25), Completion Fee (£1,800), Application Fee (£199), Redemption Administration Fee (£125), Valuation Fee (£383) and Legal Fees (£255).

The overall cost for comparison is 5.8% APRC representative.