Initial fixed rate for 2 years
then changing too .....
The Society's Mortgage Variable Rate
for the remaining term of the mortgage
The overall cost for comparison is
Your home may be repossessed if you do not keep up repayments on your mortgage
PRODUCT CODE - SOF002
A mortgage of £120,000 payable over 25 years initially on a fixed rate for 2 years at 2.84% and then on our Mortgage Variable Rate (MVR) of 5.79% (variable) for the remaining 23 years would require 24 monthly payments of £563.87 and 276 monthly payments of £749.39.
The total amount payable would be £220,834.52 made up of the loan amount plus interest (£219,345.52) an Application fee of £999, a CHAPS Fee of £20.00, a Valuation fee of £245.00, a Legal fee of £105.00 and a Mortgage Discharge Fee of £120.00.
The overall cost for comparison is 5.5% APRC representative.
Please note the example above is for a house purchase on a repayment basis.
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