Requirement
Society Example
The total amount of the credit
£120,000
Duration of the contract
21 Years
The duration of the
fixed
period
5 Years and 5 Months
The initial
fixed
rate
2.99%
The amount of the
fixed
rate instalments
£641.81
The number of the
fixed
instalments
65
The frequency of the
fixed
instalments
Monthly
Our Standard Variable Rate (SVR)
5.3%
The duration of the SVR period
15 Years and 7 Months
The frequency of the SVR instalments
Monthly
The amount of SVR instalments
£754.07
The total amount payable
£182,818.74
The total amount of interest payable
£62,728.52
Mortgage exit fee
£90
Product fee
£0
Account fee
£0
The overall cost for comparison
4.2% APRC
Representative example summary
If all or part of your income is in a currency other than Pound Sterling (£), you should be aware about the risks of fluctuations in currency exchange rates. If the value of the relevant currency moves against you by at least 20% then that may make it more difficult for you to afford your mortgage payments.
The Representative Example is based on mortgages sold between 01/12/2018 – 31/12/2018 and if you were to take your mortgage product as at 01/02/2021.
All above information is for illustration purposes only and may vary depending on personal circumstances.