The following is a representative example based on a mortgage of £216,634 payable over 25 years initially on a discounted variable rate of 5.39% 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 £1,316.13, 48 payments of £1,523.13 and 228 monthly payments of £1,668.12.
The total amount payable would be £485,303.72 made up of the loan amount plus interest of £268,394.72 and the following costs, a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£200.00), 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.