1.99% variable rate for 2 years. This is the current Mortgage Variable Rate with a 3.30% discount. There is a £1,499 completion fee which can be added to the mortgage or paid upfront. Free valuation and legal package available on re-mortgages
A mortgage of £160,000 payable over 25 years initially on a discounted rate for 2 years at 1.99% and then on our Mortgage Variable Rate (MVR) of 5.29% (variable) for the remaining 23 years would require 24 monthly payments of £267.89 and 276 monthly payments of £712.14.
The total amount payable would be £364,914.00 made up of the loan amount plus interest (£362,980.00) an Application fee of £1,499.00, a CHAPS Fee of £20.00, a Valuation fee of £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 5.00% APR representative.
Please note the example above is for a house purchase on an interest only basis.
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