Interest rates
| Period of loan | Rate payable |
|---|---|
| Months 1 - 24 |
Initial Variable Rate, Currently: 4.75%
(3.24% Discount for 2 Years)
The interest rate will not go below a floor rate of 3.00%
|
| Months 25 Onwards |
Standard Variable Rate, Currently: 7.99%
|
| Overall Cost For Comparison |
7.3% APRC
|
Interest rates are variable. All discounts rates are discounted from our Standard Variable Rate. If our Standard Variable Rate changes, your monthly repayments could go up or down.
Details
Product details
- Product code
- 730
- Fee
- None
- Maximum loan to value
- 90%
- Loan size
- No minimum loan size.
Maximum loan size £1,000,000 - Repayment type
- 7.3% APRC
- Application fee
- None
Repayments
Further information
A mortgage of £159,802.77 payable over 15 years and 1 month initially on a variable discount rate for 2 years at 4.75% and then on our current standard variable rate of 7.99%, for the remaining 13 years and 1 months, would require 24 monthly payments of £1,238.29 and 157 monthly payments of £1,487.43.
The total amount payable would be £263,245.47 made up of the loan amount plus interest (£103,442.70).
The overall cost for comparison is 7.3% APRC representative.