1.99% mortgage from the Furness Building Society. £1,999 product fee. Maximum LTV 70%. Early Repayment Charge of 3% in the first year, and then tiered
A mortgage of £630,000 payable over 25 years initially on a fixed rate for 3 years at 1.99% and then on our Mortgage Variable Rate (MVR) of 5.29% (variable) for the remaining 22 years would require 36 monthly payments of £1,048.14 and 264 monthly payments of £2,786.24.
The total amount payable would be £1,406,144.40 made up of the loan amount plus interest (£1,403,300.40), an Application fee of £1999.00, a CHAPS Fee of £20.00, a Valuation fee £605.00, 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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