Right to Buy Variable Rate Mortgage
|4.99%||Representing the Society's current residential standard variable rate. The residential standard variable rate will apply for the term of the mortgage|
|5.2% APRC||(The overall cost for comparison)|
|Available for:||Right to Buy Purchase|
|Min/Max Adv||£25,000/ £500,000 (min £5,000 for further advance)|
|Max Loan To Value:||95% of the discounted purchase price, 80% Value|
|Valuation Fee:||Payable on application. See Valuation Fee leaflet|
|Early Repayment Charge (ERC):||2% in the first year|
|Restrictions:||The mortgage must be repaid on a capital & interest basis|
|Other Features:||£400 cash back will be paid on completion|
A mortgage of £45,000 payable over 25 years on the Society’s Residential Standard Variable Rate for the mortgage term of 25 years at our current rate of 4.99% (variable) would require 300 monthly payments of £262.80 plus one initial interest payment of £190.71.
The total amount payable would be £79,495.71 made up of the loan amount plus interest (£34,030.71) and Valuation fee (£190), CHAPS fee (£25), Application Fee (£125) and Discharge fee (£125).
The overall cost for comparison is 5.2% APRC representative.
- All Dudley Building Society mortgage products are subject to limited availability and may be withdrawn at the Society's discretion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.