|Overall Cost For Comparison2||5.0% APRC|
|Early Repayment Charge||3%|
|Product Fees||£199 application fee, no completion fee|
A mortgage of £101,000.00 payable over 35 years initially on a fixed rate of 3.89% for 5 years and then on our current standard variable rate of 5.35% for the remaining 30 years would require 59 monthly payments of £441.06 and 360 monthly payments of £522.84 plus one initial interest payment of £322.92.
The total amount payable would be £215,435.86 made up of the loan amount, plus interest and fee(s) totalling £114,435.86. This includes Application Fee (£199), Chaps Fee (£25), Legal Fees (£350), Valuation Fee (£169) and Redemption Administration Fee (£125).
The overall cost for comparison is 5.0% APRC representative.