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Figures based on purchase rates on a capital and interest mortgage of £210,000 on a property valuation of £300,000 over a term of 25 years. Rates correct as of 8th August 2016.

FIXED RATES - RESIDENTIAL

Initial Interest Rate

Initial Monthly Payment

Lenders Fee

Early Repayment Charge

1.54% fixed till 31/10/2018. Then changing to the lender’s standard variable rate, which is currently 4.74%.

The overall cost for comparison is 4.29% APRC

£843.82 for 25 months; then payments at the standard variable rate (currently 4.74%) of £1,166.37.

An administration fee of £999.

2% of the outstanding loan if mortgage is repaid before 31/10/2017. 1% of the outstanding loan if mortgage is repaid before 31/10/2018 and a fee which is currently £324.

BASE RATE TRACKER - RESIDENTIAL

Initial Interest Rate

Initial Monthly Payment

Lenders Fee

Early Repayment Charge

Bank of England base rate plus 1.49% for 2 years, to give a current variable rate of 1.74%. This will not go below a floor of 1.49%. Then changing to the lender’s standard variable rate, currently 3.99% for the remaining term of the mortgage.

The overall cost for comparison is 3.66% APRC

£863.75 for 24 months; then payments at the standard variable rate (currently 3.99%) of £1,088.20.

None.

A redemption charge of £65 is payable if you repay this loan early.

FIXED RATES - BUY TO LET

Initial Interest Rate

Initial Monthly Payment

Lenders Fee

Early Repayment Charge

2.34% fixed till 30/11/2018.

Then changing to the lender’s standard variable rate of 4.04% for 36 months.

Then changing to the lender’s standard variable rate, currently 5.79%,  for the remainder of the mortgage term.

The overall cost for comparison is 4.87% APRC

£925.26 for 26 months; then payments at the lender’s standard variable rate (currently 4.04%) of £1,097.85 for 36 months.

Then a payment of £1,270.41 at the lender’s standard variable rate (currently 5.79%) for the remaining term of the mortgage.

An arrangement fee of £800 and an application fee of £130.

2% of the outstanding loan if mortgage is repaid before 30/11/2017.

1% of the outstanding loan if mortgage is repaid before 30/11/2018 and a fee which is currently £90.

BASE RATE TRACKER - BUY TO LET

Initial Interest Rate

Initial Monthly Payment

Lenders Fee

Early Repayment Charge

Bank of England base rate plus 2.09% tracker till 01/11/2018 to give a current variable rate of 2.34%.

Then changing to the lender’s standard variable rate, currently 4.74%

The overall cost for comparison is 4.42% APRC

£925.26 for 26 months; then payments at the lender’s standard variable rate (currently 4.74%) of £1,173.75.

An arrangement fee of £995.

1% of the outstanding loan if mortgage is repaid before 01/11/2018 and a fee which is currently £50.

Source: Trigold 8th August 2016

The Financial Conduct Authority do not regulate on some forms of buy to let mortgages.

Your property may be repossessed if you do not keep up repayments on your mortgage.

For mortgages we give clients the option to pay by fee rather than commission. The level of fees will vary according to individual circumstances, but will typically be 0.5% of the loan amount.

Personalised recommendations available on request.

Referral Scheme

For every referred client who completes a mortgage using the mortgage services provided by IDFM (City) Ltd – a complimentary bottle of Champagne.

Please contact IDFM (City) Ltd on 0845 2706160 for further information
or email peter@idfmcity.com
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