3.20% fixed rate for 5 years. This product has a £1,495 completion fee which can be paid upfront or added.
A mortgage of £150,000.00 payable over 25 years initially on a fixed rate for 5 years at 3.20% and then on our Buy to Let Mortgage Variable Rate (MVR) of 5.29% (variable) for the remaining 20 years would require 60 monthly payments of £365.13 and 240 monthly payments of £668.03.
The total amount payable would be £336,503.80 made up of the loan amount plus interest (£334,573.80) an Application fee of £1,495.00, a CHAPS Fee of £20.00, a Valuation fee £195.00, a Legal fee of £105.00, an Insurance Rearrangement fee of £25.00 , and a Mortgage Discharge Fee of £90.00.
The overall cost for comparison is 4.80% APR representative.
Please note the example above is for a house purchase on an interest only basis
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