Mortgage illustration
We do not currently provide a mortgage illustration on-line. We will however provide a written mortgage illustration once we have discussed your plans and feel we are able to help. Please see the typical example below for a guide as to how much repayments will cost:
Typical example
| TYPE OF MORTGAGE | Residential Repayment |
|---|---|
| Term | 25 years |
| Amount | £70,000 |
| Property value | £100,000 |
| Standard variable interest rate | 6.45% |
| Long-term discount after 2 years | 0.25% |
| 24 monthly repayments | £470.46 |
| Followed by 276 monthly payments | £460.21 |
| Total amount payable | £138,826.50 |
| The overall cost for comparison | 6.5% APR |
This example is based on the mortgage qualifying for a long-term discount of 0.25% after 2 years. The example includes the following fees:
| Application fee | £250 |
|---|---|
| Valuation fee | £150 |
| Estimated legal fees | £117.50 |
There will be no fee for the initial release of funds sent by CHAPS to your solicitor's bank. However, any subsequent release by CHAPS will be charged at £25.
Upon redemption of your mortgage you will not be charged a Deeds Production Fee or a Redemption Sealing Fee.
