Representative example based on a fixed rate mortgage
A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.
The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.
The overall cost for comparison is 6.5% APRC representative.
Early repayment charges may apply.
