3 Year Fixed Rate at 5.44%
Product Overview
Initial fixed rate for 3 years
5.44%
Maximum LTV
85%
The overall cost for comparison is
8%
APRCProduct Fee
£999
Your home may be repossessed if you do not keep up repayments on your mortgage.
PRODUCT CODE - RFI87
This is a 5.44% 3 year fixed rate mortgage. A 15% deposit is required.
This mortgage is only available for product switches.
An early repayment charge will apply if you repay all or part of your mortgage within the first 3 years. This charge will be applied on a sliding scale of 4% in the first year, 3% in the second year and 2% in the final year. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 3 years.
The minimum loan amount is £20,000 and the maximum loan amount is £1,000,000.
The maximum term available is 40 years.
There may be other fees and charges when taking out a mortgage with us – please see mortgage fees and charges for more information
Representative Example
A mortgage of £150,000 payable over 23 years initially on a fixed rate for 3 years at 5.44% and then on our Mortgage Variable Rate (MVR) of 8.69% (variable) for the remaining 20 years would require 36 monthly payments of £960.03 and 240 monthly payments of £1,234.06.
The total amount payable would be £330,855.48 made up of the loan amount plus interest (£329,736.48), an Application fee of £999 and a Mortgage Discharge Fee of £120.00.
The overall cost for comparison is 8.0% APRC representative.
Please note the example above is for a product switch on a capital and interest repayment basis.