Five Year Fixed Rate Mortgage - Purchase
|3.19%||Representing a Fixed Rate of 3.19% for the first five years, changing to our standard variable rate which is currently 4.99%.|
|4.4% APRC||(The overall cost for comparison)|
|Available for:||Purchase Only|
|Min/Max Adv||£25,000/ £1,000,000|
|Max Loan To Value:||80% (including arrangement fee)|
|Arrangement Fee:||1.25% (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|
|Early Repayment Charge (ERC):||3% in the first five 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.|
The mortgage must be repaid on a capital & interest basis.
A mortgage of £34,000 payable over 14 years and 7 months initially on a fixed rate for 5 years at 3.19% and then on our current Standard Variable Rate of 4.99% (variable) for the remaining 9 years and 7 months would require 60 monthly payments of £243.22 and 115 monthly payments of £263.78 plus one initial interest payment of £92.12.
The total amount payable would be £45,880.02 made up of the loan amount plus interest (£11,020.02) and Arrangement Fee (£425), Valuation Fee (£160), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 4.4% 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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.