3 Year Discounted Rate Mortgage for Self Employed Customers with 1 Years Accounts
|3.49%||Representing a 1.50% discount off our residential standard variable rate for the first three years, changing to our residential standard variable rate which is currently 4.99%|
|4.3% APRC||(The overall cost for comparison)|
|Available for:||Remortgage only|
|Min/Max Adv||£25,000/ £350,000 (min £5,000 for further advance)|
|Max Loan To Value:||75% (including arrangement fee)|
|Arrangement Fee:||£995 (If the arrangement fee is added to the loan; the Loan to Value must not exceed 75%)|
|Early Repayment Charge (ERC):||3% in the first 3 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.|
1 years accounts required. The mortgage must be repaid on a capital & interest basis
Applicants need to be existing homeowners or have a minimum of 12 months rental history.
|Other Features:||Provides both assistance with legal fees and a free valuation. The Society will only cover the costs of core conveyancing, please the ‘LMS Conveyancing: Fees Assisted - England & Wales’ document for more details.|
A mortgage of £144,000 payable over 7 years initially on our discounted rate at 1.5% 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 £1,934.68 and 48 monthly payments of £1,993.18 plus one initial interest payment amount of £426.83.
The total amount payable would be £167,017.95 made up of the loan amount plus interest (£21,747.95) and Arrangement fee (£995), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 4.3% 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion.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.