3 Year Discounted Rate Mortgage For Up To 80% Loan To Value
|2.89%||Representing a 2.10% discount off our residential standard variable rate for the first three years, changing to our residential standard variable rate which is currently 4.99%|
|3.8% APRC||(The overall cost for comparison)|
|Available for:||Purchase and Remortgage|
|Min/Max Adv||£25,000/ £1m (min £5,000 for further advance)|
|Max Loan To Value:||80%|
|Valuation Fee:||Payable on application. See Valuation Fee leaflet|
|Early Repayment Charge (ERC):||3% in the first three years||Overpayments:||10% of the advance amount can be repaid per annum for three years without incurring a charge. A 3% charge is due on any amount repaid that exceeds 10% per annum.|
This mortgage must be repaid on a capital & interest basis.
A mortgage of £144,000 payable over 7 years initially on our discounted rate at 2.1% below the Society’s Residential Standard Variable Rate for 3 years and then reverting to our current Residential Standard Variable Rate of 4.99% (variable) for the remaining 4 years would require 36 monthly payments of £1,895.58 and 48 monthly payments of £1,976.37 plus one initial interest payment of £353.45.
The total amount payable would be £164,185.09 made up of the loan amount plus interest (£19,460.09) and Valuation fee (£450), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 3.8% 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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.