|Initial Rate1||Currently 3.99%|
|Overall Cost For Comparison2||5.4% APRC|
|Early Repayment Charge||2%|
|Product Fees||£199 application fee, £999 completion fee|
A mortgage of £86,400 payable over 12 years initially on a variable rate, currently 3.99% for 2 years and then on our current standard variable rate of 5.35% for the remaining 10 years would require 23 monthly payments of £760.16 and 120 monthly payments of £809.64 plus one initial interest payment of £282.57.
The total amount payable would be £116,745.05 made up of the loan amount, plus interest and fee(s) totalling £30,345.05. This includes Application Fee (£199), Valuation Fee (£194), Legal Fees (£255), Chaps Fee (£25), Completion Fee (£999) and Redemption Administration Fee (£150).
The overall cost for comparison is 5.4% APRC representative.