Representing a Fixed Rate of 3.34% for the first five years, changing to our Standard Variable Rate which is currently 4.99%
(The overall cost for comparison)
Available for: Purchase and Remortgage
Min/Max Adv: £1,000,000/£2,500,000
Max Loan To Value: 80% for loans between £1.0m - £1.5m (including arrangement fee)
70% for loans between £1.51m - £2.5m (including arrangement fee)
Arrangement Fee: £499 (If the arrangement fee is added to the loan; the Loan to Value must not exceed 80%)
Valuation Fee: Payable on application. See Valuation Fee leaflet.
Application Fee: £125
Early Repayment Charge (ERC): 3% of the current balance in the first two years and 1% for the remaining three years
Overpayments: 10% of the advance amount can be repaid per annum for five years without incurring a charge. A 3% charge is due on any amount repaid that exceeds 10% per annum for the first two years and a 1% charge is due on any amount that exceeds 10% per annum for the remaining three years
Restrictions: This mortgage must be repaid on a capital & interest basis
Other Features: N/A
A mortgage of £1,250,000 payable over 35 years initially on a fixed rate for 5 years at 3.34% and then on our current Standard Variable Rate of 4.99% (variable) for the remaining 30 years would require 60 monthly payments of £5,050.92 and 360 monthly payments of £6,152.99 plus one initial interest payment of £3,545.89.
The total amount payable would be £2,523,651.49 made up of the loan amount plus interest (£1,271,677.49) and Arrangement fee (£499), Valuation Fee (£1,200) CHAPS Fee (£25), Application Fee (£125) and Discharge Fee (£125).
The overall cost for comparison is 4.6% 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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