Purchase Only 5 Year Fixed Rate Mortgage
RATES CORRECT AS AT 20 October 2023
Initial rate
5.74%
Fixed 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
7.3%
APRC
Maximum loan to value
95%
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Representative Example
A mortgage of £160,000.00 payable over 25 years initially on a fixed rate for 5 years at 5.74% and then on our current Standard Variable Rate of 8.24% (variable) for the remaining 20 years would require 60 monthly payments of £1004.56 and 240 monthly payments of £1219.17.
The total amount payable would be £352,909.22 made up of the loan amount plus interest of £192,874.22 and application fee £0, product fee £0, valuation fee £0, funds transfer fee £35.
The overall cost for comparison is 7.3% 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.
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 2029.
- 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