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||4.8% 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
90% LTV within our lending area only**
£40,000 to £475,000 for any single property
During the first 2 years an early repayment charge of 2% 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 2% 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 £124,333 payable over 26 years and 3 months initially on a discount rate for 2 years at 2.34% and then on our current variable rate of 5.24% for the remaining 24 years and 3 months would require 24 monthly payments of £528.64 and 291 monthly payments of £712.85.
The total amount payable would be £220,251.71 made up of the loan amount plus interest (£95,793.71) and mortgage exit fees (£125).
The overall cost for comparison is 4.8% APRC representative.