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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
5.79%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
7.70%
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 5.79% for 2 years, a further discounted variable rate of 7.14% for 4 years, followed by our Standard Variable Rate of 8.39%. In this example you would make 24 monthly payments of £1,368.10, 48 payments of £1,539.69 and 228 monthly payments of £1,685.67.
The total amount payable would be £491,122.28 made up of the loan amount plus interest of £274,438.28 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.
Discount Market Scheme - 2 Year Discount 95% LTV (20% OMV Discount)
Initial Interest Rate
6.04%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
7.80%
Product Code
R198
The following is a representative example based on a mortgage of £216,634 payable over 25 years initially on a discounted variable rate of 6.04% for 2 years, a further discounted variable rate of 7.14% for 4 years, followed by our Standard Variable Rate of 8.39%. In this example you would make 24 monthly payments of £1,401.08, 48 payments of £1,541.82 and 228 monthly payments of £1,688.01.
The total amount payable would be £492,549.56 made up of the loan amount plus interest of £275,865.56 and the following cost, a Mortgage Exit Administration Fee (£50.00).
The overall cost for comparison is 7.8% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.