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MORTGAGE BEST BUYS February 2012
Figures based on purchase rates on a capital and interest mortgage of £210,000 on a property valuation of £300,000 over a term of 25 years.
Rates correct as of 01st February 2012
FIXED RATES - RESIDENTIAL
Initial Interest Rate |
Initial Monthly Payment |
Lenders Fee |
Early Repayment Charge |
2.95% fixed for 2 years then changing to the standard variable rate which is currently 5.59%. The overall cost for comparison is 5.3% APR |
£995.10 for 24 months then payments at the standard variable rate currently 5.59% of £1,284.20 |
Arrangement fee of £999 which must be added to the loan |
2% of the outstanding loan if mortgage is repaid within 2 years after the mortgage completes and a £150 administration fee. |
BASE RATE TRACKER - RESIDENTIAL
Initial Interest Rate |
Initial Monthly Payment |
Lenders Fee |
Early Repayment Charge |
Bank of England base rate plus 2.09% tracker for till 31/03/2014 to give a current variable rate of 2.59% then changing to the standard variable rate which is currently 5.99%. The overall cost for comparison is 5.5% APR |
£951.64 for 24 months then payments at the standard variable rate currently 5.99% of £1,321.38. |
Arrangement fee of £900 and a Booking fee of £95.
|
2% of the outstanding loan if mortgage is repaid before 31/03/2014 and a Mortgage Fee of £90. |
FIXED RATES – BUY TO LET
Initial Interest Rate |
Initial Monthly Payment |
Lenders Fee |
Early Repayment Charge |
4.19% fixed till 01/02/2014 then changing to the standard variable rate which is currently 6.54%. The overall cost for comparison is 6.3% APR |
£1,130.90 for 23 months then payments at the standard variable rate currently 6.54% of £1,404.72. |
Arrangement fee of £1,000. |
180 days of interest charged on the original loan amount if mortgage repaid before 01/02/201. In addition a release fee of £140 is payable. |
BASE RATE TRACKER - BUY TO LET
Initial Interest Rate |
Initial Monthly Payment |
Lenders Fee |
Early Repayment Charge |
Bank of England base rate plus 3.64% till 31/03/20104 to give a current variable rate of 4.14% then changing to the standard variable rate which is currently 4.99%./p> The overall cost for comparison is 5.0% APR |
£1,124.76 for 24months then payments at the standard variable rate currently 4.99% of £1,219.69. |
Arrangement fee of £999
|
4% of the outstanding loan if the mortgage is repaid before 31/03/2014 |
Source: Trigold 01st February 2012
PLEASE NOTE THAT THE FSA DO NOT REGULATE SOME FORMS OF BUY TO LET MORTGAGES.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
You can choose how we are paid: pay a fee, usually 0.5% of the loan amount, or no fee and we accept commission from the lender.
Personalised recommendations available on request.
Referral Scheme
For every referred client who completes a mortgage using the mortgage services provided by IDFM (City) Ltd – Free bottle of Champagne.
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