|
Lender |
Initial Rate |
Variable Rate |
APR |
True Cost |
Fees & Incentives |
Early Redemption Charge |
Monthly Cost |
| Marsden Building Society | 5.24% Tracker 30/4/09 |
5.89% |
6% |
£23,566 |
£345 fee £3750 cashback | 5% of loan until 30/4/05, 4% of loan until 30/4/06, 3% of loan until 30/4/07 2% of loan until 30/4/08, 1% of loan until 30/4/09. | £448.99 then £473.63 |
| Loughborough Building Society | 5.6% |
5.6% |
5.9% |
£24,254 |
£100 fee £3750 cashback | Cashabck to be repaid within 3 years | £465.06 |
| Monmouthshire Building Society | 4.07% Discount 5 years |
5.89% |
5.5% |
£24,357 |
£175 fee | 4% of loan within 5 years | £403.04 then £470.37 |
| Melton Mowbray Building Society | 2.69% Discount 1 year 3.94% Discount 1 year 4.94% Discount 3 years |
5.94% |
5.5% |
£24,339 |
£140 fee £140 refunded | 6 months interest within 5 years | £343.68 then £391.60 then £430.99 then £467.97 |
| Penrith Building Society | 4.1% Discount 5 Years |
5.35% |
5.2% |
£24,389 |
£130 fee | 2 months interest within 3 years | £404.31 then £450.10 |
The above table shows the top 5 products available (as at 13/04/2004) using a 'True Cost Comparison' over a 5 year period. For comparison purposes, we have used a loan amount of £75,000 over 25 years on a capital and interest repayment basis and assumed a property value of at least £100,000.
We recommend using a true cost analysis as this is the sum total (over the 5 year period) of monthly payments, arrangement fees and valuation costs and this enables us to compare different benefits offered by lender's schemes fairly against each other.
Whilst great care has been taken in compiling these tables, no liability can be accepted by Mosaic Mortgages as all rates and conditions should be checked before finalising any arrangements. Furthermore, these tables do not constitute an offer of advance nor does it in any way bind any particular lender to make an advance. The tables are for illustrative purposes only and this does not constitute as the 'Full advice and Recommendation' service offered by Mosaic Mortgages under the Mortgage Code.
Click here if you would like further information on any of the above schemes or would like one of our specialists to contact you to discuss your individual circumstances.
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT. WRITTEN QUOTATIONS AVAILABLE ON REQUEST.
Mosaic Mortgages is a trading name of Mosaic Mortgage Management Limited. Mosaic Mortgage Management is regulated by the Mortgage Code Compliance Board under registration number 5694876. Head Office: 8 Chatsworth Grove, Harrogate, North Yorkshire, HG1 2AS. Telephone 0845 3456744.