Product:
A first charge capital repayment mortgage secured against your residential property
Total amount of loan:
£186,495 (including a product fee of £1,495 added to the loan at completion)
Term:
25 years (300 months)
Rate:
3.90% for 5 years (60 months) followed by a variable rate of 4.74% for the remaining 20 years (240 months)
Payment and frequency:
60 months at £974.12 followed by 240 months at £1,047.01
Total amount repayable:
£310,049.60, including interest of £123,234.60 and fees not added to the loan of: £295 application fee and £25 funds transfer fee.
APRC:
The overall cost for comparison is 4.6%
For the purposes of this example, at the end of the fixed rate period, a variable rate of 4.74% has been assumed for the whole of the remaining term. However, please be aware that variable rates can go up or down and the actual monthly payments and total amount repayable could differ.
Your home may be repossessed if you do not keep up repayments on your mortgage