|Overall Cost For Comparison2||5.0% APRC|
|Early Repayment Charge||3%|
|Product Fees||£199 application fee, £1,300 completion fee|
A mortgage of £134,476 payable over 25 years initially on a fixed rate of 3.39% for 5 years and then on our current standard variable rate of 5.35% for the remaining 20 years would require 59 monthly payments of £379.89 and 240 monthly payments of £599.56 plus one initial interest payment of £374.69.
The total amount payable would be £303,287.60 made up of the loan amount, plus interest and fee(s) totalling £168,811.60. This includes Application Fee (£199), Valuation Fee (£225), Legal Fees (£255), Chaps Fee (£25), Completion Fee (£1,300) and Redemption Administration Fee (£125).
The overall cost for comparison is 5.0% APRC representative.