Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.
|Period of Loan||Rate Payable|
Initial Variable Rate, Currently:
|Month 25 onwards||
Standard Variable Rate, Currently:
|Overall cost for comparison||4.9% APRC|
Interest Rates are variable. All discounts are off our Standard Variable Rate.
£40,000 to £1,000,000 for any single property
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.
You may make capital repayments without an Early Repayment Charge.
A mortgage of £142,724 payable over 26 years and 9 months initially on a discounted variable rate for 2 years at 2.04% and then on our current variable rate of 5.24% for the remaining 24 years and 9 months would require 24 monthly payments of £577.29 and 297 monthly payments of £809.34.
The total amount payable would be £256,038.82 made up of the loan amount plus interest (£111,504.94), Despatch of Title Deeds Fee (£50), Product Fee (£999), Mortgage Discharge & Sealing Fee (£75), Telegraphic Transfer Fee (£25), Valuation Fee (£260.88), Administration Fee (£150) and Legal Fees (Estimated £250).
The overall cost for comparison is 4.9% APRC representative.