Additional Borrowing (Residential) 2 Year Discount Rate – up to 90% LTV
3.25% (SVR minus 1.99%)
STANDARD VARIABLE RATE of 5.24% with a discount of 1.99% until 2 years following completion date, then reverting to 3.50% (SVR minus 1.74%) for 36 months, then changing to Suffolk Standard Variable Rate (currently 5.24%)
CHAPS (Fee for transfer of funds to solicitor):
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
A mortgage of £105,000.00 payable over 22 years on our Standard Variable Rate currently at 5.24% with a discount of 1.99%, giving a current rate payable of 3.25% for 24 months, then on our Standard Variable Rate currently at 5.24% with a discount of 1.74%, giving a rate payable of 3.50% for 36 months, followed by our Standard Variable Rate currently at 5.24% for the remainder of the mortgage term. This would require 24 monthly payments of £558.08, followed by 36 payments of £570.62, followed by 204 payments of £649.88. The total amount payable would be £166,805.76 made up of the loan amount plus interest (£61,351.76), an application fee of £199, a completion fee of £125, a mortgage discharge fee of £95 and a mortgage funds release fee of £35. The overall cost for comparison is 4.5% APRC representative.