To help you understand a typical cost for a mortgage, please see the representative example below. The figures used are for illustration purposes only, your actual costs and monthly payments will vary depending on your mortgage.
For example:A mortgage of £25,000 payable over 18 years, initially on a fixed rate for 5 years at 9.70% and then on a tracker at 2% above the Together Homeowner Managed Rate currently 8.75% (variable) for the remaining 13 years would require 60 instalments of £277.76 followed by 137 monthly payments of £291.67 plus a redemption administration fee of £100.00. Read more information on THMR.
The total amount payable would be £57,016.06 made up of the loan amount (£25,000) plus fees (arrangement fee (£995), broker fee (£1,388) and redemption administration fee (£100), plus interest (£29,533.06).
The overall cost for comparison is 12.3% APRC representative.
The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.
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A mortgage of £105,000 payable over 18 years, initially on a fixed rate for 5 years at 8.20% and then on a tracker at 2% above the Together Homeowner Managed Rate (THMR) currently 8.75% (variable), for the remaining 13 years, would require 60 instalments of £962.29 followed by 156 monthly payments of £1,098.86 plus a redemption administration fee of £100.00. Read more information on THMR.
The total amount payable would be £229,259.56 made up of the loan amount (£105,000)plus fees (arrangement fee (£1,495), broker fee (£1,981) and redemption administration fee (£100), plus interest (£120,683.56).
The overall cost for comparison is 10.2% APRC representative.
The actual rate available will depend upon your circumstances. Ask us for a personalised illustration.
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