A mortgage of £240,000 payable over 19 years initially on a fixed rate of 3.29% for 5 years and then on our current standard variable rate of 5.34% for the remaining 14 years would require 59 monthly payments of £658.00 and 168 monthly payments of £1,067.95 plus one initial interest payment of £605.72.
The total amount payable would be £461,017.32 made up of the loan amount, plus interest and fee(s) totalling £221,017.32. This includes Application Fee (£199), Chaps Fee (£25), Completion Fee (£1,800) and Redemption Administration Fee (£150).