Representative example: Assumed borrowing of £29,095 over 120 months, with a fixed borrowing rate if 4.4% per annum for the first 60 months, followed by 60 months at the lenders standard variable borrowing rate of 4.05%. There would be 60 monthly instalments of £300.14 followed by 60 instalments if £295.00. Total amount payable £36,016.20 comprised of; loan amount (£260,000); interest (£6918.20); Broker fee (£2600) Lender fee (£465). This would result in an overall cost of 7.1% APRC
Think carefully before securing other debts against your home. Your home is at risk if you do not keep up repayments on a mortgage or any other debt secured on.