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6.94% Expat 1.50% Discounted Rate from follow on rate for 2 years (XD0218)

Initial interest rate	Current follow on rate	Overall cost for comparison	Repayment or Interest-Only?	Max % Loan to Value (LTV)	Product fees	Additional benefits
6.94% Expat 1.50% Discounted Rate from follow on rate for 2 years (XD0218)
6.94%	8.44%	8.5%APRC	Interest-Only	80%	£0

Key things to bear in mind

Purpose - Expat product switch
Discount - 1.50% applied to our Managed Mortgage Rate for 2 years
Minimum rate - 4.44%
Loan to Value - Maximum 80%.
Application fee - £0
Valuation fees - £0
Product fee - £0
Early Repayment Charges - 2% in the first year, 1% in the second year
Maximum loan - No maximum.
Minimum loan - No minimum
Cost for comparison - 8.5% APRC
Additional criteria - We require a UK address for the serving of notice.

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Representative example

A mortgage of £240,021.00 payable over 17 years initially on a discounted variable rate for 2 years at 1.50% below our variable Managed Mortgage Rate and then on our variable Managed Mortgage Rate, currently 8.44% would require 23 monthly payments of £1,388.12 and 181 monthly payments of £1,686.63 plus one initial interest payment of £1,373.40.

The total amount payable would be £578,701.19 made up of the loan amount plus interest of £338,580.19 and a Mortgage Exit Fee of £100.

The overall cost for comparison is 8.5% APRC representative.