Representative example A mortgage of £195,890 payable over 23 years, initially on a fixed rate until 31/12/25 at 5.69% and then on a variable rate of 6.99% for the remaining 21 years would require 26 payments of £1,274.15 followed by 250 payments of £1,417.33. The total amount payable would be £388,459 made up of the loan amount plus interest (£191,570) and fees (£999). The overall cost for comparison is 6.7% APRC representative.