7.84% Three Year Fixed Rate Further Advance Residential
Interest Rates
7.84%
Representing a Fixed Rate of 7.84% for the first three years, changing to our Residential Standard Variable Rate which is currently 8.74%
8.9% APRC
(The overall cost for comparison)
Main Features
Available for: Further Advances
Min/Max Adv: £5,000/£1,000,000
Max Loan To Value: 80%
Arrangement Fee: N/A
Valuation Fee: A revaluation fee of £150 may be applicable.
Application Fee: £80
Early Repayment Charge (ERC): 3% of the current balance in the first year and 1% for the second and third years
Overpayments: 10% of the advance amount can be repaid per annum for the first three years without incurring a charge. A 3% charge is due on any amount repaid that exceeds 10% per annum for the first year and a 1% charge is due on any amount that exceeds 10% per annum in years two and three.
Restrictions: This mortgage must be repaid on a capital & interest basis
Other Features: N/A
Please note that we will consider the following:
- Guarantor mortgages (max 75% LTV)
- Self-employed applicants with only 1 year's accounts (Max 75% LTV)
- Joint borrower, sole proprietor (up to product LTV Limit)
Representative Example
A mortgage of £87,734.00 payable over 23 years initially on a fixed rate for 3 years at 7.84% and then reverting to our current Standard Variable Rate of 8.74% (variable) for the remaining 20 years would require 36 monthly payments of £687.07 and 240 monthly payments of £734.10 plus one initial interest payment of £565.34.
The total amount payable would be £201,738.86 made up of the loan amount plus interest (£113,749.86) and Revaluation fee (£150), CHAPS fee (£25) and Application Fee (£80).
The overall cost for comparison is 8.9% APRC representative.
Additional Notes
- 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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