2 Year Interest Only Discount Rate Mortgage
RATES CORRECT AS AT 10 Nov 2017
Initial variable rate is the Society's SVR less a discount of 3.89%, (currently)
For the first 2 years
Then changing to the Society's SVR less a discount of 1.00%, for a further 3 years, (currently)
Then changing to the Society's SVR thereafter, (currently)
For the remaining term of the mortgage
The overall cost for comparison is
Maximum loan to value
FEES AND CHARGES WILL APPLY, SOME OF WHICH ARE NON-REFUNDABLE, SEE BELOW.
Warning: THE MORTGAGED PROPERTY (WHICH MAY BE YOUR HOME) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
A mortgage of £140,000.00 payable over 25 years initially on a 3.89% discount on our current Standard Variable Rate of 5.69% for 2 years and then a 1.00% discount on our current Standard Variable Rate of 5.69% for 3 years and then on our current Standard Variable Rate of 5.69% for the remaining 20 years would require 24 monthly payments of £210.00, 36 monthly payments of £547.17 and 240 monthly payments of £663.83.
The total amount payable would be £325,092.00 made up of the loan amount plus interest of £184,058.00 and application fee £0, product fee £999, valuation fee £0.
The overall cost for comparison is 5.2% APRC representative.
This representative example assumes a mortgage completion date on the 1st day of a calendar month.
The above representative example is for illustration purposes only and may vary depending on your personal circumstances.
- 10% capital repayments are allowed each year during the variable rate period without incurring an Early Repayment Charge.
- Tapered Early Repayment Charges apply for the first 2 years.
- Free standard valuation up to £999.
- Fees assisted legal services for standard re-mortgages.
- Maximum loan £1,250,000.
- Interest calculated daily.
- Available where part or all of the mortgage is on Interest Only.
- Sale of the mortgaged property can be used as a repayment strategy but equity must make downsizing plausible at the end of the mortgage term.
**If you apply for a mortgage online you will not receive advice from Leeds Building Society. You will need to make your own choice about which mortgage is suitable for you and we will not assess the suitability of that mortgage to your needs and circumstances. You will not benefit from the protections offered by an advised service. This is called an execution only transaction. If you would like to receive advice from us please call into one of our branches (find a branch) or contact us on 03450 50 50 75.
|Application Fee (payable on application - non-refundable)||£0|
|Product Fee (payable on application - this is refundable should the mortgage not complete)||£999|
|Mortgage Exit Fee||£199|