The following is a representative example based on a mortgage of £216,634 payable over 25 years initially on a discounted variable rate of 5.10% 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 £1,279.07, 48 payments of £1,520.49 and 228 monthly payments of £1,665.22.
The total amount payable would be £484,650.36 made up of the loan amount plus interest of £266,717.36 and the following costs, a Scheme Fee of (£999.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£225.00), and 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.