Representative example: A mortgage of £135,000 taken out for a period of 19 years on an interest only basis.
Monthly instalments: £370.13 per month for 23 months, followed by £552.84 per month for 204 months.
Total amount payable: £258,184.85
Total amount of credit: £135,000
The total amount payable includes administration fee £125, valuation fee £580, product fee £1,012.50, completion fee £75 and closing fee £100.
The overall cost for comparison is 4.9% representative APRC.
This example relates to the HMO 3.29% variable for two years product, is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personalised illustration for your own particular requirements.