Representative example: A mortgage of £135,000.00 taken out for a period of 18 years on an interest only basis.
Monthly instalments: £448.88 per month for 23 months, followed by £632.23 per month for 192 months.
Total amount payable: £268,891.40.
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 5.6% representative APRC.
This example relates to the HMO variable for two years product. It is based on our current Standard Variable Rate of 5.60%, with fees not added to the mortgage.
Please ask for a personalised illustration for your own particular requirements.