Mortgage product
information.
Expat Residential 2 Year Discount Rate (Interest Only) – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.19% (SVR minus 2.30%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.4% |
Standard rate | STANDARD VARIABLE RATE of 7.49% with a discount of 2.30% until 2 years from completion date, then reverting to Suffolk Standard Variable Rate (currently 7.49%) for the remainder of the term. |
Fees | Application Fee: Completion Fee: Valuation Fee: Remortgage – Based on property valuation CHAPS (Fee for transfer of funds to solicitor): |
Maximum loan | £1.5m |
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 |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
An interest only mortgage of £430,000.00 payable over 24 years on our Standard Variable Rate currently at 7.49% with a discount of 2.30%, giving a current rate payable of 5.19% for 24 months, followed by our Standard Variable Rate currently at 7.49% for the remainder of the mortgage term. This would require 24 monthly payments of £1,864.22, followed by 264 payments of £2,690.37. The total amount payable would be £1,186,676.96 made up of the loan amount plus interest (£754,998.96) an application fee of £199, a completion fee of £999, a valuation fee of £350, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.4% APRC representative.