Purchase Only 3 Year Fixed Rate Mortgage
RATES CORRECT AS AT 20 October 2023
Initial rate
6.44%
Fixed up to and inc. 28/02/2027
Then changing to the Society's SVR less a discount of 0.75%, (currently)
7.49%
Up to and inc. 28/02/2029
Then changing to the Society's SVR, (currently)
8.24%
For the remaining term of the mortgage
The overall cost for comparison is
7.8%
APRC
Maximum loan to value
95%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Representative Example
A mortgage of £120,000.00 payable over 25 years initially on a fixed rate for 3 years at 6.44% and then a 0.75% discount on our current Standard Variable Rate of 8.24% giving a rate of 7.49% for 2 years and then on our current Standard Variable Rate of 8.24% for the remaining 20 years would require 36 monthly payments of £804.92, 24 monthly payments of £878.17 and 240 monthly payments of £928.85.
The total amount payable would be £273,011.42 made up of the loan amount plus interest of £152,976.42 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.
The overall cost for comparisons is 7.8% APRC representative.
This representative example assumes a mortgage completion date on the 1st day of a calendar month.
The above representative example is for illustration purposes only and may vary depending on your personal circumstances.
This example has been calculated on a Capital & Interest repayment method. The monthly payments, total amount payable and interest charged all reflect this calculation method.
Additional features
- Interest calculated daily.
- Maximum loan £500,000.
- Free standard valuation up to £999 .
- This product is not available to interest only applications.
- 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
- Tapered Early Repayment Charges apply up to and including 28 Feb 2027.
- Only available for house purchases.
Fees
Application Fee (payable on application - non-refundable)
£0
Product Fee (payable on application - this is refundable should the mortgage not complete)
£0
Mortgage Exit Fee
£199