Three Year Fixed Rate Further Advance
Representing a Fixed Rate of 2.99% for the first three years, changing to our Residential Standard Variable Rate which is currently 4.99%
(The overall cost for comparison)
Available for: Further Advances
Min/Max Adv: £5,000/£1,000,000
Max Loan To Value: 80% (including arrangement fee)
Arrangement Fee: £399 (If the arrangement fee is added to the loan; the Loan to Value must not exceed 80%)
Valuation Fee: A re-valuation fee of £150 may be applicable.
Application Fee: £80
Early Repayment Charge (ERC): 1% in the first three years
Overpayments: 10% of the advance amount can be repaid per annum for three years without incurring a charge. A 1% 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 £6,500 payable over 8 years initially on a fixed rate for 3 years at 2.99% and then reverting to our current Residential Standard Variable Rate of 4.99% (variable) for the remaining 5 years would require 36 monthly payments of £76.21 and 60 monthly payments of £80.05 plus one initial interest payment of £16.51.
The total amount payable would be £8,217.07 made up of the loan amount plus interest (£1,063.07) and Arrangement Fee (£399), Revaluation Fee (£150), CHAPS fee (£25) and Application Fee (£80).
The overall cost for comparison is 6.8% 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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