|Loan to Value (LTV)||A fixed interest rate of 2.55% to 31 January 2020||Then changing to our SVR for rest of mortgage term, currently||The overall cost for comparison is|
Based on a £162,440 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over an 15 year term: 26 monthly payments at a fixed rate of 2.55%, (£1086.96) £28,260.96. 154 monthly payments at standard variable rate (currently 4.99%), (£1256.14) £193,445.56. Valuation fee on property of £400,000, payable when you apply £360 (see scale). Application fee payable when you apply £199. Completion fee payable at time of legal completion £199. Telegraphic Transfer fee payable when you apply £25. Solicitors fees payable to your conveyancer (estimated) £360. Mortgage Discharge Fee payable at the end of your mortgage £150. Total Amount Payable £222,999.52
It’s a good idea to know approximately how much you’ll have to spend before you start house hunting. The Melton’s mortgage advisors will help work out an affordability budget with you to give you an indication of how much you may be able to borrow.
Opening a savings account can be a good way to save up for your deposit. Take a look at our range of savings accounts.
Make friends with the agents. Calling and visiting your estate agents regularly will help ensure you’re the first to know when a hot new property hits the market.
Put aside a whole day, and do a number of viewings (six is the suggested maximum). Go on a weekday if you can – estate agents will give you more time than at the weekend.
Take your own pictures. These are much more useful than glossy agents’ shots. Film your visits on your phone, too. That way, you have something to refer back to.
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We offer competitive buildings and contents insurance in partnership with Uinsure. Find out more.