Sorry, these mortgages are currently unavailable.
|Mortgage Product||Maximum Loan to Value||Initial Rate||Followed by our Standard Variable Rate||The overall cost for comparison||Product Fees||Deposit amount|
|2.55% Fixed Rate to 31 January 2020||75%||2.55%||4.99%||4.5% APRC||£398|
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
With a fixed rate mortgage, the monthly interest rate (and therefore your monthly mortgage payment) will stay the same for a set period of time, typically this will be approximately two, three or five years. At the end of the fixed rate period your rate will usually change to our Standard Variable Rate.
You are guaranteed that your rate will be exactly the same every month for the duration of the fixed rate mortgage– even if other interest rates rise during this period.
You can confidently plan your budget for the whole period, because you’ll know in advance exactly what your monthly outgoings for your mortgage will be. If interest rates fall during the fixed period, the amount you pay during the fixed rate period will not change, so you may end up paying a higher rate of interest than if you were on a variable rate mortgage.
Take a look at our fixed rate mortgages above. If you’re not sure how much you may be able to borrow you can use our Affordability calculator and use our Mortgage Finder to search our mortgages. To make an appointment with a Mortgage Advisor please call 01664 414141. For further information read our Handy Guide to Mortgages.