|Initial Rate1||Currently 3.65%|
|Overall Cost For Comparison2||5.7% APRC|
|Early Repayment Charge||3%|
|Product Fees||£199 application fee, £1,800 completion fee|
A mortgage of £90,000.00 payable over 24 years initially on a variable rate, currently 3.65% for 3 years and then on our current standard variable rate of 5.75% for the remaining 21 years would require 35 monthly payments of £273.75 and 252 monthly payments of £431.22; plus one initial interest payment of £278.24.
The total amount payable would be £211,124.93 made up of the loan amount, plus interest and fee(s) totalling £121,124.93. This includes Application Fee (£199), Valuation Fee (£169), Legal Fees (£255), Chaps Fee (£25), Completion Fee (£1,800) and Redemption Administration Fee (£150).
The overall cost for comparison is 5.7% APRC representative.