|Initial Rate1||Currently 2.99%|
|Overall Cost For Comparison2||4.9% APRC|
|MAX LTV3||over 80% and up to 85%|
|Early Repayment Charge||3%|
|Product Fees||£199 application fee, £800 completion fee|
A mortgage of £140,000 payable over 25 years initially on a variable rate, currently 2.99% for 3 years and then on our current standard variable rate of 5.35% for the remaining 22 years would require 35 monthly payments of £664.66 and 264 monthly payments of £828.96 plus one initial interest payment of £344.05.
The total amount payable would be £243,601.59 made up of the loan amount, plus interest and fee(s) totalling £103,601.59. This includes Application Fee (£199), Chaps Fee (£25), Completion Fee (£800) and Redemption Administration Fee (£125).
The overall cost for comparison is 4.9% APRC representative.