|Period of Loan||Rate Payable|
Initial Fixed Rate, Currently:
|Month 25 onwards||
Standard Variable Rate, Currently:
|Overall cost for comparison||4.7% APRC|
Interest Rates are fixed.
No Product Fee
90% within our lending area only**
£40,000 to £475,000
During the first 2 years an early repayment charge of 3% of the amount repaid will be incurred. After this period no early repayment charges apply
Regular overpayments are not permitted during the first 2 years from completion. Regular overpayments are amounts collected with, and in addition to, your monthly mortgage payments. You may make capital repayments of up to 10% of the original sum borrowed in each of the first 2 years without an early repayment charge. However, during the first 2 years any additional amount repaid above the 10% permitted will be subject to an Early Repayment Charge of 3% of the amount repaid. Following receipt of a lump sum payment, the amount that you owe, and so the amount of interest you pay, is reduced immediately
A mortgage of £138,753 payable over 27 years and 8 months initially on a fixed rate for 2 years at 2.30% and then on our current variable rate of 4.99% for the remaining 25 years and 8 months would require 24 monthly payments of £565.30 and 308 monthly payments of £757.43.
The total amount payable would be £247,645.64 made up of the loan amount plus interest (£108,102.64), valuation fee (£240), application fee (£150), legal costs (estimated £250), funds transfer fee (£25) and mortgage exit fees (£125).
The overall cost for comparison is 4.7% APRC representative.