|Overall Cost For Comparison2||5.0% APRC|
|Early Repayment Charge||3%|
|Product Fees||£199 application fee, £1,300 completion fee|
A mortgage of £301,122 payable over 13 years initially on a fixed rate of 4.19% for 5 years and then on our current standard variable rate of 5.35% for the remaining 8 years would require 59 monthly payments of £1,051.42 and 96 monthly payments of £1,342.60 plus one initial interest payment of £1,037.01.
The total amount payable would be £495,369.39 made up of the loan amount, plus interest and fee(s) totalling £194,247.39. This includes Application Fee (£199), Valuation Fee (£383), Legal Fees (£255), Chaps Fee (£25), Completion Fee (£1,300) and Redemption Administration Fee (£125).
The overall cost for comparison is 5.0% APRC representative.