A mortgage of £179,000 payable over 35 years initially on a fixed rate of 3.89% for 5 years and then on our current standard variable rate of 5.75% for the remaining 30 years would require 59 monthly payments of £781.68 and 360 monthly payments of £968.38 plus one initial interest payment of £572.31.

The total amount payable would be £396,226.23 made up of the loan amount, plus interest and fee(s) totalling £217,226.23. This includes Application Fee (£199), Legal Fees (£350), Valuation Fee (£194), Chaps Fee (£25) and Redemption Administration Fee (£150).

The overall cost for comparison is 5.3% APRC representative.

A mortgage of £179,000 payable over 35 years initially on a variable rate, currently 3.45% for 3 years and then on our current standard variable rate of 5.75% for the remaining 32 years would require 35 monthly payments of £735.52 and 384 monthly payments of £974.23 plus one initial interest payment of £507.58.

The total amount payable would be £401,273.10 made up of the loan amount, plus interest and fee(s) totalling £222,273.10. This includes Application Fee (£199), Valuation Fee (£194), Legal Fees (£350), Chaps Fee (£25) and Redemption Administration Fee (£150).

The overall cost for comparison is 5.4% APRC representative.