The Selina Homeowner Loan is offered at a minimum variable rate of 9.00% and from 8.45% 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 such as the product fee and the arrangement fee. 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 over 25 years at a variable rate of 9.00% would result in 300 monthly payments of £872.72. The total cost after 25 years is £261,816.00 which includes £161816.00 of interest, a £995 product fee and a £3,000 arrangement fee added to the balance. APRC: 9.91%
A loan of £100,000 over 25 years results in 60 monthly payments of £833.89 at a fixed annual rate of 8.45% and 240 monthly payments of £867.71 at a reversion rate of 3.75% above the Bank of England Base Rate. The total cost over the full term is £258,283.80, including interest of £158,283.80, an arrangement fee of £3,000, a product fee of £995 added to the balance. APRC: 9.61%.