Representing a 1.60% discount off our Residential Standard Variable rate for two years, changing to our Residential Standard Variable Rate which is currently 4.99%
(The overall cost for comparison)
Available for: Purchase and Remortgage
Min/Max Adv: £25,000/£1,000,000
Max Loan To Value: 85% (including arrangement fee)
Arrangement Fee: £499 (If the arrangement fee is added to the loan; the Loan to Value must not exceed 85%)
Valuation Fee: Payable on application. See Valuation Fee leaflet.
Application Fee: £125
Early Repayment Charge (ERC): 3% in the first two years
Overpayments: 10% of the advance amount can be repaid per annum for two years without incurring a charge. A 3% charge is due on any amount repaid that exceeds 10% per annum
Restrictions: This mortgage must be repaid on a capital & interest basis
Other Features: N/A
A mortgage of £245,626 payable over 20 years initially on our discounted rate at 1.60% below the Society’s Residential Standard Variable Rate for 2 years and then reverting to our current Residential Standard Variable Rate of 4.99% (variable) for the remaining 18 years would require 24 monthly payments of £1,410.69 and 216 monthly payments of £1,600.63 plus one initial interest payment of £707.20..
The total amount payable would be £381,463.84 made up of the loan amount plus interest (134,673.84) and Arrangement fee (£499), Valuation fee (£390), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 4.8% APRC representative.
- This mortgage summary should be read in conjunction with the Terms and Conditions.
- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion
- Fees and rates may vary according to the individual case. Fees and rates will be confirmed upon application.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE