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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
5.69%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
7.60%
Product Code
R199
The following is a representative example based on a mortgage of £216,634 payable over 25 years initially on a discounted variable rate of 5.69% for 2 years, a further discounted variable rate of 7.04% for 4 years, followed by our Standard Variable Rate of 8.29%. In this example you would make 24 monthly payments of £1,355.01, 48 payments of £1,525.78 and 228 monthly payments of £1,671.02.
The total amount payable would be £486,800.24 made up of the loan amount plus interest of £270,116.24 and the following cost, a Mortgage Exit Administration Fee (£50.00).
The overall cost for comparison is 7.6% 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
5.94%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
7.70%
Product Code
R198
The following is a representative example based on a mortgage of £216,634.00 payable over 25 years initially on a discounted variable rate of 5.94% for 2 years, a further discounted variable rate of 7.04% for 4 years, followed by our Standard Variable Rate of 8.29%. In this example you would make 24 monthly payments of £1,387.84, 48 payments of £1,527.93 and 228 monthly payments of £1,673.36.
The total amount payable would be £488,224.88 made up of the loan amount plus interest of £271,540.88 and the following cost, a Mortgage Exit Administration Fee (£50.00).
The overall cost for comparison is 7.7% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.