1.40% variable rate for 2 years. This is the current Mortgage Variable Rate with a 3.89% discount and £1,499 completion fee is added to the loan. Free valuation and legal package available on re-mortgages. This product is for loans between £300,000 and £500,000. Please refer for mortgages above £500,000
A mortgage of £350,000 payable over 25 years initially on a discounted rate for 2 years at 1.40% and then on our Mortgage Variable Rate (MVR) of 5.29% (variable) for the remaining 23 years would require 24 monthly payments of £410.15 and 276 monthly payments of £1,549.72.
The total amount payable would be £789,640.32 made up of the loan amount plus interest (£787,566.32) an Application fee of £1,499.00, a CHAPS Fee of £20.00, a Valuation fee of £335.00, 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 4.90% APR representative
Please note the example above is for a house purchase on an interest only basis.
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