Our choice for April’s Mortgage Deal of the Month is a 5 year fixed rate at 1.24%:
Initial Rate:
A fixed rate of 1.24% until 30/06/2026
This reverts to:
Followed by lenders Standard Variable Rate, currently 3.59%, for the remaining term of the mortgage
The overall cost for comparison is:
The APRC applicable to your loan is 2.6%
£1,499 arrangement fee
Features:
- Available on residential loans up to 60% of the purchase price or valuation of the property, whichever is the lower.
- Available for purchase only
- The product is available for loans between £250,000 and £1,000,000
- Early Repayment Charges (ERC) of 5% of the amount repaid to 30/06/2022; 4% to 30/06/2023; 3% to 30/06/2024; 2% to 30/06/2025; 1% to 30/06/2026
Information is correct as at 21st April 2021.
Representative example:
Representative Example: 2.6% APRC based on borrowing £320,000 over 20 years on 1.24% fixed until 30.06.26, giving 62 monthly payments of £1,513.23 followed by 179 payments of £1,785.47 on a variable rate (currently 3.59%). Total amount payable £413,267 including the following one off cost – £1,499 lender arrangement fee