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Discount Market Scheme Mortgages
We are supporting the Discount Market Scheme - a specialist home ownership mortgage, where a new build property is purchased at a discounted price.
Our mortgages
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Discount Market Scheme - 2 Year Discount 95% LTV (Minimum of 20% OMV Discount)
Initial Interest Rate
5.84%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
7.40%
Product Code
DP475
The following is a representative example based on a mortgage of £180,000 payable over 25 years initially on a discounted variable rate of 5.84% for 2 years, a further discounted variable rate of 6.39% for 4 years, followed by our Standard Variable Rate of 8.14%. In this example you would make 24 monthly payments of £1,142.20, 48 payments of £1,199.45 and 228 monthly payments of £1,364.92.
The total amount payable would be £397,055.16 made up of the loan amount plus interest of £216,188.16 and the following costs, a Scheme Fee of (£599.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£193.00), and a Mortgage Exit Administration Fee (£50.00).
The overall cost for comparison is 7.4% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.