The following is a representative example based on a mortgage of £200,000 over 25 years initially on a discounted rate of 7.59% for 2 years followed by our Standard Variable Rate of 8.74%. This example would require an initial payment of £1,863.08, then 23 monthly payments of £1,489.80 and 276 payments of £1,635.20. This example assumes the repayment method is capital and interest.
The total amount payable would be £488,743.68 made up of the loan amount, plus interest of £287,443.68, a Funds Transfer Fee (£25.00), Valuation fee (£505.00), a Buildloan Arrangement fee (£695.00), and a Mortgage Exit Administration fee (£75.00).
The overall cost for comparison is 9.00% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.