Mortgage product
information.
Buy To Let 2 Year Fixed Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.30% |
Rate Type | Fixed |
Rate Term | 2 year |
APRC | 6.8% |
Standard rate | Fixed Rate of 5.30% until 30/11/2027, then changing to Suffolk Standard Variable Rate (currently 7.89%) for the remainder of the term |
Fees | Application Fee: Completion Fee: Valuation Fee: Remortgage – FREE CHAPS (Fee for transfer of funds to solicitor): |
Maximum loan | £1m |
Maximum LTV | 80% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 3% applies until 30/11/2027 [Remortgage Only: fee-assisted legals, excluding Joint Borrower Sole Proprietor applications] |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £495,000.00 payable over 8 years on initially on a fixed rate until 30/11/2027 at 5.30%, then our Standard Variable Rate currently at 7.89% for the remainder of the mortgage term. This would require 27 monthly payments of £6,350.84, followed by 69 payments of £6,814.56. The total amount payable would be £642,421.17 made up of the loan amount plus interest (£145,643.17), an application fee of £199, a completion fee of £999, a valuation fee of £450, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 6.8% APRC representative.