Rates are incredibly low right now, but what does this mean for the future?Watch a short video about the current low rates and what you need to be aware of over on my YouTube channel and read below for the full transcript…
***
*Example rate – 0.89% 2 year fixed rate (3.2% APRC)
Example is based on a property value of £900,000 and deposit of £360,000. Mortgage is £540,000 over a term of 30 years on a capital & interest basis. Arrangement fee is £999 and can be added to the loan. Initial rate of 0.89% applies for 2 years and then reverts to SVR (3.54%). The overall cost for comparison is 3.2% APRC. Monthly payment is £1,709.70. Total amount payable over 30 years is £840,044.
***
Catch up on other blog posts from The Mortgage Mum here.
Watch more videos on The Mortgage Mum YouTube channel here (subscribe for new videos)
Sign up to The Mortgage Mum email newsletter here.
***
The Mortgage Mum have an affiliate relationship with Check My File, where you can get a 30-day free trial. Check My File sees your data from all 4 credit agencies, not just one, and is consistently rated excellent on Trustpilot. Your trial, and the subscription, can be cancelled at any time. Beyond the 30 day free trial the service is charged at £14.99 per month.