|Overall Cost For Comparison2||5.2% APRC|
|Early Repayment Charge||3%|
|Product Fees||£499 completion fee|
A mortgage of £127,870.00 payable over 31 years initially on a fixed rate of 2.59% for 3 years and then on our current standard variable rate of 5.75% for the remaining 28 years would require 35 monthly payments of £501.23 and 336 monthly payments of £717.51; plus one initial interest payment of £272.21.
The total amount payable would be £259,827.62 made up of the loan amount, plus interest and fee(s) totalling £131,957.62. This includes Legal Fees (£255), Chaps Fee (£25), Completion Fee (£499) and Redemption Administration Fee (£150).
The overall cost for comparison is 5.2% APRC representative.