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 – RFX28
This is a 2.39% 2 year fixed rate mortgage. 20% 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 2% in the first year and 1% in the second year. However a maximum of 10% overpayment is allowed in each 12 month anniversary period within the first 2 years.
A mortgage of £120,000 payable over 23 years initially on a fixed rate for 2 years at 2.39% and then on our Mortgage Variable Rate (MVR) of 5.79% (variable) for the remaining 23 years would require 24 monthly payments of £565.60 and 252 monthly payments of £768.90.
The total amount payable would be £207,457.20 made up of the loan amount plus interest (£87,457.72) and a Mortgage Discharge Fee of £120.00.
The overall cost for comparison is 5.2% 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.