Mortgage product
information.
Additional Borrowing (Residential) 2 Year Discount Rate – up to 90% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.04% (SVR minus 3.10%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.9% |
Standard rate | STANDARD VARIABLE RATE of 8.14% with a discount of 3.10% until 2 years following completion date, then reverting to Suffolk Standard Variable Rate (currently 8.14%) for the remainder of the term. |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): |
Maximum loan | £500,000 |
Maximum LTV | 90% |
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
A mortgage of £88,000.00 payable over 27 years on our Standard Variable Rate currently at 8.14% with a discount of 3.10%, giving a current rate payable of 5.04% for 24 months, followed by our Standard Variable Rate currently at 8.14% for the remainder of the mortgage term. This would require 24 monthly payments of £499.60, followed by 300 monthly payments of £664.90. The total amount payable would be £211,552.16 made up of the loan amount plus interest (£123,098.16), an application fee of £199, a completion fee of £125, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.9% APRC representative.