The Selina Homeowner Loan is offered at a minimum variable rate of 8.45% and from 7.95% for fixed rates.*
However, to get an idea of how much borrowing will cost you, it is more sensible to look at the APRC. The APRC is a percentage which represents the annual cost of borrowing against a security property and includes the interest rate and any other fees. It allows customers to compare different products available on the market. Please note the APRC you receive will reflect your individual circumstances.
A Homeowner Loan of £100,000 drawn out in full over 25 years at a variable rate of 8.45% would result in 300 monthly payments of £809.84. The total cost after 25 years is £242,952.00 which includes £142,952.00 of interest and a £995 product fee added to the balance. APRC: 8.90%
A Homeowner Loan of £100,000 over 25 years at an initial rate of 7.95% for 5 years and a reversion rate of 9.00% for the remaining 20 years would result in 60 monthly payments of £776.15 followed by 240 monthly payments of £837.99. The total cost after 25 years is £247,686.60 which includes £147,686.60 of interest and a £995 product fee added to the balance. APRC: 9.00%