1.00% Discount for Term Shared Ownership Mortgage
|3.99%||Representing a 1.00% discount off our standard variable rate.|
|4.2% APRC||(The overall cost for comparison)|
|Available for:||Purchase Only|
|Min/Max Adv||£25,000/ £250,000 (min £5,000 for further advance)|
|Max Loan To Value:||90% of share|
|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.|
|Restrictions:||The mortgage must be repaid on a capital & interest basis|
|Other Features:||Minimum share 25%|
A mortgage of £144,000 payable over 7 years on our discounted rate at 1.0% below the Society’s Residential Standard Variable Rate of 4.99% (variable) for the mortgage term of 7 years would require 84 monthly payments of £1,967.65 plus one initial interest payment amount of £487.98.
The total amount payable would be £166,495.58 made up of the loan amount plus interest (£21,770.58) and Valuation fee (£450), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 4.2% 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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.