|Period of Loan||Rate Payable|
Initial Variable Rate, Currently:
|Month 61 onwards||
Standard Variable Rate, Currently:
|Overall cost for comparison||5.0% APRC|
Interest Rates are variable. All discounts are off our Standard Variable Rate. If our Standard Variable Rate changes, your monthly repayments could go up or down.
No Product Fee
Mixed Repayment/ Interest only mortgages will be considered. For new borrowers the interest only element cannot exceed 50% LTV. Existing Society borrowers will be allowed to transfer their existing interest only loan if they move house but any additional borrowing must be on a repayment basis. All borrowers will be required to provide evidence of how they intend to repay interest only loans.
Regular overpayments will be permitted without an early repayment charge. Regular overpayments are amounts collected with, and in addition to, your monthly mortgage payments. You may make capital repayments without an early repayment charge. Following receipt of a lump sum payment, the amount that you owe, and so the amount of interest you pay, is reduced immediately.
£40,000 to £500,000
A mortgage of £124,322 payable over 28 years and 2 months initially on a fixed rate 5 years at 4.25% and then on our current variable rate of 5.24% for the remaining 23 years and 2 months would require 60 monthly payments of £630.74 and 278 monthly payments of £693.69.
The total amount payable would be £230,815.22 made up of the loan amount plus interest (£106,368.22) and mortgage exit fees (£125).
The overall cost for comparison is 5.0% APRC representative.