Initial Rate for 2 years
Followed by the Mortgage Variable Rate - currently
The overall cost for comparison is
Your home may be repossessed if you do not keep up repayments on your mortgage
PRODUCT CODE – RFX46
This is a 1.89% 2 year fixed rate mortgage. 40% equity is required.
This mortgage is available for product transfers.
An early repayment charge will apply if you repay all or part of your mortgage within the first 2 years. This charge will be applied on a sliding scale of 3% in the first year and 2% in the second year. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 2 years.
The minimum loan amount is £20,000
A mortgage of £120,000 payable over 23 years initially on a fixed rate for 2 years at 1.89% and then on our Mortgage Variable Rate (MVR) of 5.79% (variable) for the remaining 21 years would require 24 monthly payments of £536.44 and 252 monthly payments of £765.68.
The total amount payable would be £205,945.92 made up of the loan amount plus interest (£85,825.92) and a Mortgage Discharge Fee of £120.00.
The overall cost for comparison is 5.1% APRC representative.
Please note the example above is for a product transfer on a repayment basis
Fill in the details below to find out how much you will need to pay on a monthly basis on a repayment mortgage and an interest only mortgage.