|Overall Cost For Comparison2||5.3% APRC|
|Early Repayment Charge||3%|
|Product Fees||£199 application fee, no completion fee|
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.