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Discount Market Scheme Mortgages
We are supporting the Discount Market Scheme - a specialist home ownership mortgage, where a new build property is purchased at a discounted price.
Our mortgages
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Discount Market Scheme - 2 Year Discount 95% LTV (30% OMV Discount)
Initial Interest Rate
5.84%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
7.80%
Product Code
DP224
The following is a representative example based on a mortgage of £216,634.00 payable over 25 years initially on a discounted variable rate of 5.84% for 2 years, a further discounted variable rate of 7.14% for 4 years, followed by our Standard Variable Rate of 8.39%. In this example you would make 24 monthly payments of £1,374.67, 48 payments of £1,540.12 and 228 monthly payments of £1,686.14.
The total amount payable would be £492,231.76 made up of the loan amount plus interest of £274,723.76 and the following costs, a Scheme Fee of (£599.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£200.00), and a Mortgage Exit Administration Fee (£50.00).
The overall cost for comparison is 7.8% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.
Discount Market Scheme - 2 Year Discount 95% LTV (Minimum of 20% OMV Discount)
Initial Interest Rate
6.09%
Maximum Loan To Value (LTV)
95%
Overall Cost for Comparison
7.80%
Product Code
DP223
The following is a representative example based on a mortgage of £216,634.00 payable over 25 years initially on a discounted variable rate of 6.09% for 2 years, a further discounted variable rate of 7.14% for 4 years, followed by our Standard Variable Rate of 8.39%. In this example you would make 24 monthly payments of £1,407.72, 48 payments of £1,542.24 and 228 monthly payments of £1,688.47.
The total amount payable would be £493,657.96 made up of the loan amount plus interest of £276,149.96 and the following costs, a Scheme Fee of (£599.00), a Chaps/Telegraphic Transfer fee (£25.00), a Valuation Fee (£200.00), and a Mortgage Exit Administration Fee (£50.00).
The overall cost for comparison is 7.8% APRC representative.
Note: What you will pay may vary from this and will depend on your personal circumstances.