Discount Rate For Term - Interest Only
|3.84%||Representing a 1.15% discount off our residential standard variable rate.|
|4.1% APRC||(The overall cost for comparison)|
|Available for:||Purchase Only|
|Min/Max Adv||£25,000/ £1,000,000 (min £5,000 for further advance)|
|Max Loan To Value:||60% (including arrangement fee)|
|Arrangement Fee:||0.80% (If the arrangement fee is added to the loan; the Loan to Value must not exceed 60%)|
|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:||This mortgage must be repaid on an interest only basis|
A mortgage of £144,000 payable over 7 years on our discounted rate at 1.15% 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 £460.80 plus one initial interest payment amount of £469.64.
The total amount payable would be £185,053.84 made up of the loan amount plus interest (£39,176.84) and Arrangement fee (£1,152), Valuation fee (£450), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 4.1% 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- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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.