Discounted Market Value – 5 Year Fixed

A mortgage of £170,258.00, payable over 34 years and 9 months (417 months) initially on a fixed rate for 5 years (60 months) of 5.89% and then on our current standard variable rate of 7.89% for the remaining 29 years and 9 months (357 months) would require 60 monthly payments of £960.33 then 357 monthly payments of £1,175.71 on a capital and interest repayment basis. The total amount payable would be £478,544.80 made up of the loan amount plus interest (£307,692.80) with a £499.00 product fee, £10.00 CHAPS fee, and a mortgage exit administration fee of £85.00. The overall cost for comparison is 7.4% representative APRC.

Full Repayment

An early repayment charge equivalent to 2% of the outstanding balance applies if the loan is repaid in full within the first year and 1% in the second year of the product period. Thereafter the Society’s standard repayment charges will apply – see Tariff of Charges. The early repayment charge may be refunded if the borrower(s) take out a new mortgage with the Society subject to meeting the Society’s criteria.

Partial Lump Sum Repayment

Up to 10% of the advanced amount may be repaid in any year of the product rate period without charge. Repayments made above the 10% limit will be subject to a charge equivalent to 2% in the first year and 1% in the second year of the product period.

Valuation Fee

The Society will pay the cost of a standard mortgage valuation fee.

Product Fee 

A fee of £499.00 is payable.  This fee can be added to the loan (subject to LTV limits)

Mortgage Exit Administration Fee /Additional Fees

£85.00 Sealing Fee. Additional administration fees may apply during the life of your mortgage. Details of these can be found in the Tariff of Charges leaflet.

Product Fee 

A fee of £499.00 is payable.  This fee can be added to the loan (subject to LTV limits)