A repayment mortgage of £20,000, payable over 5 years on a 5 year Fixed rate of 10.0% would require 60 monthly payments of £446.17.
The total amount payable would be £26,770.20 made up of the loan amount plus interest and a product fee of £999.
The overall cost for comparison is 12.8% APRC representative.
If you are thinking of consolidating existing borrowing you should be aware that if you are extending the term of the debt you may be increasing the total amount you repay. All loans are subject to status, and appropriate lending terms.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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* Fees have only been added to the 'Total Repayable' and not the 'Monthly Repayment' for this calculator example.