Mortgage product
information.
Buy To Let Light Refurbishment 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.09% (SVR minus 2.40%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 6.6% |
Standard rate | STANDARD VARIABLE RATE of 7.49% with a discount of 2.40% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 7.49%) |
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 1% applies until 2 years from completion [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 £265,000.00 payable over 8 years on our Standard Variable Rate currently at 7.49% with a discount of 2.40%, giving a current rate payable of 5.09% for 24 months, then on our Standard Variable Rate currently at 7.49% for the remainder of the mortgage term. This would require 24 monthly payments of £3,379.38, followed by 72 payments of £3,617.67. The total amount payable would be £342,086.41 made up of the loan amount plus interest (£75,543.41), an application fee of £199, a completion fee of £999, a valuation fee of £215, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 6.6% APRC representative.