Buy to let

A mortgage of £174,056.00, payable over 22 years and 2 months (266 months) initially on a fixed rate for 5 years (60 months) of 5.35% and then on our current standard variable rate of 7.89% for the remaining 17 years and 2 month (206 months) would require 60 monthly payments of £776.00 then 206 monthly payments of £1,144.42 on an interest only basis. The total amount payable would be £458,547.55 made up of the loan amount plus interest (£282,897.55) with a £1,499.00 product fee, £10.00 CHAPS fee, and a redemption administration fee of £85.00. The overall cost for comparison is 7.3% representative APRC.

A mortgage of £191,941.00, payable over 23 years and 1 month (277 months) initially on a fixed rate for 2 years (24 months) of 4.99% and then on our current standard variable rate of 7.89% for the remaining 21 years and 1 month (253 months) would require 24 monthly payments of £798.15 then 253 monthly payments of £1,262.01 on an interest only basis. The total amount payable would be £536,206.60 made up of the loan amount plus interest (£339,170.60) and £5,000.00 product fee, £10.00 CHAPS fee, and £85.00 redemption administration fee. The overall cost for comparison is 8.0% representative APRC.