A mortgage of £112,000 payable over 22 years on our standard variable rate of 5.95% would require 264 payments of £762.55.
The total amount payable would be £201,403.20 made up of the loan amount (£120,000) plus interest (£89,194.19) plus product fee of £0, account fee of £120 and mortgage exit fee of £90.
The overall cost for comparison is 6.1% 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.