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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
6.14%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
8.10%
Product Code
R199
The following is a representative example based on a mortgage of £230,000 payable over 25 years initially on a discounted variable rate of 6.14% for 2 years, a further discounted variable rate of 7.49% for 4 years, followed by our Standard Variable Rate of 8.74%. In this example you would make an initial payment of £1,694.62, 23 monthly payments of £1,501.70, 48 payments of £1,685.50 and 228 monthly payments of £1,838.30.
The total amount payable would be £536,345.12 made up of the loan amount plus interest of £306,270.12 and the following cost, a Mortgage Exit Administration Fee (£75.00).
The overall cost for comparison is 8.10% 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
6.39%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
8.10%
Product Code
R198
The following is a representative example based on a mortgage of £230,000 payable over 25 years initially on a discounted variable rate of 6.39% for 2 years, a further discounted variable rate of 7.49% for 4 years, followed by our Standard Variable Rate of 8.74%. In this example you would make an initial payment of £1,737.98, 23 monthly payments of £1,537.20, 48 payments of £1,687.60 and 228 monthly payments of £1,840.60.
The total amount payable would be £537,830.18 made up of the loan amount plus interest of £307,755.18 and the following cost, a Mortgage Exit Administration Fee (£75.00).
The overall cost for comparison is 8.10% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.