 |
| Type of mortgage |
Initial rate |
Standard variable rate at start |
APR |
Monthly payments |
Application / administration fee
|
Total amount payable |
Early repayment charge |
|
| Variable rate |
5.75% |
5.75% |
7.7% |
300 at £287.50
|
Nil |
£146,884.00 |
3 months interest at the variable
rate during first year
|
| Fixed rate |
5.39% |
5.00%
(bank base rate plus 1.00%) |
5.6% |
59 at £426.71 followed by 241
at £395.83 |
£399.00 |
£218,153.92 |
7% of the amount redeemed until 28th
Feb 2003, 6% until 28th Feb 2005 and 5% until 28th Feb 2007,
plus £100 administration fee
|
| Discounted rate for 1
year |
4.80% |
5.80% |
6.0% |
12 at £240.00 followed by 288
at £290.00 |
£300.00 |
£147,220.00 |
Repayment of the discount received
during first 2 years
|
Bank base rate, currently 4.00%, plus
1.00% until 2nd Sep 2008
|
5.00% |
5.95% |
5.6% |
80 at £250.00 followed by 220
at £297.50 |
Nil |
£146,130.70 |
Nil |
Capped rate until 1st Nov 2004
|
5.99% |
5.75% |
6.7% |
33 at £299.50 followed by 267
at £287.50
|
£295.00 |
£147,555.00 |
Nil |
A mortgage loan of £60,000 to purchase a property valued at £100,000
over 25 years (300 monthly payments). Rates are variable except
for any period during which a fixed rate applies.
Estimated
legal fees (including Land Registry fees) of £250 and sealing fee
of £75.
For
fixed, capped and discounted rate mortgages, it is assumed that
the fixed / capped / discounted rate applies for the period of the
fix / cap / discount, and that the rate then reverts to the standard
variable rate applying at the commencement of the mortgage. In fact,
the standard variable rate is likely to have changed by the end
of the fixed/capped/discounted rate period.
* These illustrations are based upon assumed
APR's,which may not necessarily be applicable at the time of applying
for a loan.
Typical example: A loan of £10,000 over 60 months = £216.85 per
month. Total amount payable £13,011. APR 11.4% variable.
All loans subject to the lender's underwriting criteria and applicant's
status.
A small selection of our lenders is
listed here.
A Mortgage Glossary is available here.
