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Discount Market Scheme Mortgages
This type of mortgage is for existing borrowers, who currently have a Discount Market Scheme Mortgage, whose product is coming to an end or need additional borrowing.
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Discount Market Scheme - 2 Year Discount 95% LTV (30% OMV Discount)
Initial Interest Rate
5.54%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
7.50%
Product Code
R199
The following is a representative example based on a mortgage of £180,000 payable over 25 years initially on a discounted variable rate of 5.54% for 2 years, a further discounted variable rate of 6.89% for 4 years, followed by our Standard Variable Rate of 8.14%. In this example you would make 24 monthly payments of £1,109.66, 48 payments of £1,250.53 and 228 monthly payments of £1,370.26.
The total amount payable would be £399,126.56 made up of the loan amount plus interest of £219,076.56 and the following cost, a Mortgage Exit Administration Fee (£50.00).
The overall cost for comparison is 7.5% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.
Discount Market Scheme - 2 Year Discount 95% LTV (20% OMV Discount)
Initial Interest Rate
5.79%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
7.50%
Product Code
R198
The following is a representative example based on a mortgage of £180,000 payable over 25 years initially on a discounted variable rate of 5.79% for 2 years, a further discounted variable rate of 6.89% for 4 years, followed by our Standard Variable Rate of 8.14%. In this example you would make 24 monthly payments of £1,136.75, 48 payments of £1,252.31 and 228 monthly payments of £1,372.22.
The total amount payable would be £400,309.04 made up of the loan amount plus interest of £220,259.04 and the following cost, a Mortgage Exit Administration Fee (£50.00).
The overall cost for comparison is 7.5% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.