Representative example: A mortgage of £135,000.00 taken out for a period of 18 years on an interest only basis.
Monthly instalments: £465.75 per month for 23 months, followed by £649.36 per month for 192 months.
Total amount payable: £272,568.37.
Total amount of credit: £135,000.00.
The total amount payable includes valuation fee £580, product fee £1,499 and closing fee £100.
The overall cost for comparison is 5.8% representative APRC.
This example relates to the HMO variable for two years product. It is based on our current Standard Variable Rate of 5.75%, with fees not added to the mortgage.
Please ask for a personalised illustration for your own particular requirements.
The SVR is increasing to 5.99% (variable) from 1st September 2022.