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 Lender

Initial Rate

Variable Rate

APR

 True Cost (Inc legal fees)

Fees & Incentives

Early Redemption Charge

Monthly Cost
Woolwich 4.39% Discount  2 years

6.29%

6.1%

£9,993

 £100 Fee     Free legal fees 6 months interest within 2 years + £500 £412.76  then £491.69
Nationwide Building Society 4.29% Tracker    2 years

5.49%

5.4%

£10,041

 £249 fee Free legal fees 2% of loan in year 1, 1% of loan in year 2. £407.99 then £456.68
Bank of Ireland 4.54% Discount    1/7/06

6.29%

6.1%

£10,046

 £220 fee £220 refunded + free legal fees 5% of loan until 1/7/06 £418.58 then £491.74
Halifax 4.54%   Tracker 31/10/06

6.25% 

6%

£10,046

  

N/A + Free legal fees

 2% of loan until 31/10/05, 1% of loan until 31/10/06 £418.58 then £489.15
Woolwich (Exclusive) 4.29% Discount Year 1 4.59% Discount Year 2

 6.04%

5.9% 

£10,085 

£145 fee  Free legal fees

 6 months interest within 2 years + £500 £408.53 then £420.87 then £481.07

The above table shows the top 5 products available (as at 9/06/2004) using a 'True Cost Comparison'  over a 2 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 2 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 the telephone icon or 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.