Representative example: A mortgage of £104,000 taken out for a period of 25 years on a repayment basis.
Monthly instalments: £526.77 per month for 23 months, followed by £599.85 per month for 276 months.
Total amount payable: £178,204.31
Total amount of credit: £104,000
The total amount payable includes administration fee £125, valuation fee £230, product fee £0, completion fee £75 and closing fee £100.
The overall cost for comparison is 4.8% representative APRC.
This example is based on a typical mortgage and assumes that fees are not added to the mortgage. Please ask for a personal illustration for your own particular requirements.