2.98% mortgage from the Furness Building Society. £999 product fee. Maximum LTV 90%. Early Repayment Charge of 5% in the first year, and then tiered.
A mortgage of £180,000 payable over 25 years initially on a fixed rate for 5 years at 2.98% and then on our Mortgage Variable Rate (MVR) of 5.29% (variable) for the remaining 20 years would require 60 monthly payments of £449.59 and 240 monthly payments of £798.12.
The total amount payable would be £399,958.20 made up of the loan amount plus interest (£395,524.20), an Application fee of £999.00, 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 4.70% APR representative.
Please note the example above is for a house purchase on an interest only basis
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