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 Fixed Rate, Currently:
|Month 25 onwards||
Standard Variable Rate, Currently:
|Overall cost for comparison||5.1% APRC|
Interest Rates are fixed.
No Product Fee
£40,000 to £500,000
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.
One Free Standard Valuation (On Properties up to £1 Million in Value)
A mortgage of £139,391 payable over 30 years and 8 months initially on a fixed rate for 2 years at 3.65% and then on our current variable rate of 5.24% for the remaining 28 years and 8 months would require 24 monthly payments of £630.04 and 344 monthly payments of £754.95.
The total amount payable would be £275,223.76 made up of the loan amount plus interest (£135,432.76), funds transfer fee (£25), legal costs (estimated £250), and mortgage exit fees (£125).
The overall cost for comparison is 5.1% APRC representative.