2 Year Discount Rate Holiday Let – 75% LTV
Overall cost for comparison
Early Repayment Charges and other fees may apply. We will lend a minimum of £100,000 to borrowers purchasing a home outside our local operating postcodes which are: TS, DL, DH, SR, YO & HG.
Based on a mortgage of £126,900 payable over 25 years, initially on our 3.39% Dicounted rate for 2 years and 4 months, and then on our Standard Variable rate currently 5.30% for the remaining 22 years and 8 months. This would require 28 monthly payments of £633.37 and all remaining instalments of £759.59
The total amount payable would be £224,432.84, made up of the loan amount plus interest of £96,322.37, a product fee of £999 and account fee of £120.
The overall cost for comparison is 5.10% APRC.
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 01/01/2018 – 31/12/2018 and if you were to take your mortgage product as at 01/06/2021.
All above information is for illustration purposes only and may vary depending on personal circumstances.