Contractor Mortgages
THIS INFORMATION IS FOR USE BY AUTHORISED INTERMEDIARIES ONLY
Contact us: 01582 463133 | brokers@harpendenbs.co.uk
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Term
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3 Year Discount
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| Variable Rate Repayment | 2.49% | |||
| Followed by our variable reversion rate |
4.19%
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Available for
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Purchase, Remortgage, Release of Equity
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Repayment Type
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Repayment
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APRC Repayment
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3.8%
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Min/Max Mortgage
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£75,000 - £3,500,000
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Max Term
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35 Years
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Max LTV Repayment
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80%
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Arrangement Fee
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By arrangement (Minimum £1,000)
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Admin Fee
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£100 (Refunded upon completion)
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ERC's
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2%
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| REPRESENTATIVE EXAMPLE |
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| A Capital and Interest mortgage of £245,430.00 payable over 17 years initially on a Discounted Variable Rate for 3 years at 2.49% and then on our Standard Variable Rate of 4.19% for the remaining 14 years would require 36 monthly payments of £1,476.86 and 168 monthly payments of £1,648.88
The total amount payable would be £333,693.80 made up of the loan amount plus interest (£84,748.80), an Arrangement Fee of £2,430.00, an Administration Fee of £100.00, a Valuation Fee of £500.00 (property value £610,000.00), Legal Fees of £360.00, a Redemption Fee of £75.00 and a Deeds Release Fee of £50.00 The overall cost for comparison is 3.8% APRC |
| KEY FEATURES |
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Get in touch with our Mortgage Team
01582 463133 | brokers@harpendenbs.co.uk
YOUR MORTGAGE WILL BE SECURED ON YOUR PROPERTY AND YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
MORTGAGE PRODUCTS ARE REGULATED BY THE FINANCIAL CONDUCT AUTHORITY EXCEPT SECOND/HOLIDAY HOME, BUY-TO-LET AND RESIDENTIAL DEVELOPMENT, WHERE THE BORROWER DOES NOT RESIDE ON SITE DURING THE DEVELOPMENT PERIOD.