2 Year Retirement Interest Only Fixed Rate Mortgage
RATES CORRECT AS AT 09 Aug 2019
Fixed up to and inc. 30/11/2021
Then changing to the Society's SVR less a discount of 1.25%, (currently)
Up to and inc. 30/11/2024
Then changing to the Society's SVR, (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 £75,000.00 payable over 25 years initially on a fixed rate for 2 years at 3.34% and then a 1.25% 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 £208.75, 36 monthly payments of £277.50 and 240 monthly payments of £355.63.
The total amount payable would be £176,384.00 made up of the loan amount plus interest of £100,350.00 and application fee £0, product fee £999, valuation fee £0, funds transfer fee £35.
The overall cost for comparisons is 5.4% 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 fixed rate period without incurring an Early Repayment Charge.
- Tapered Early Repayment Charges apply up to and including 30 Nov 2021.
- Free standard valuation up to £999.
- Maximum loan £1,250,000.
- Interest calculated daily.
- Sale of the mortgaged property is the only repayment strategy accepted.
- This product is only available on an interest-only basis.
- A mortgage exit fee of £199 will apply if the loan is repaid in full before the mortgage ends.
- No maximum 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. If you would like to receive further guidance please contact us.
|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|