Representative Example

A mortgage of £120,000 payable over 20 years on an initial rate of 1.99% which includes a 3.21% discount from our standard variable rate for 2 years followed by our standard variable rate, currently 5.20%, for the remaining 18 years would require 24 monthly payments of £606.49 and 216 monthly payments of £785.49.
 
The total amount payable would be £185,885.60 made up of the loan amount plus interest (£64,221.60), arrangement fee (£999), valuation fee (£245), Solicitor fee (£250), funds transfer fee (£15) and a Mortgage Exit Fee (£155).
 
The overall cost for comparison is 4.8% APRC representative.

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Vernon Building Society
19 St Petersgate
Stockport
SK1 1HF

Tel: 0161 429 6262
Email: info@thevernon.co.uk

Telephone calls are recorded and may be monitored for regulatory and training purposes to help maintain service quality.

*The 'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Vernon Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (registration number 195475).  You can check this on the Financial Services Register. We are also a participant of the Financial Services Compensation Scheme (FSCS). Details of the scheme can be obtained from www.fscs.org.uk

Telephone calls are recorded and may be monitored for regulatory and training purposes to help maintain service quality.

For independent information about financial products and services visit  www.moneyadviceservice.org.uk

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