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Mortgage product
information.

Additional Borrowing (Buy To Let) Discount Rate – up to 80% LTV

Mortgage details

Initial rate

3.75% (SVR minus 1.49%)

Rate Type

Variable

Rate Term

2 year

APRC

5.20%

Standard rate

STANDARD VARIABLE RATE of 5.24% with a discount of 1.49% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 5.24%)

Fees

Application Fee:
£199

Completion Fee:
£125

Valuation Fee:
N/A

CHAPS (Fee for transfer of funds to solicitor):
£35

Maximum loan

£500,000

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

A mortgage of £22,000.00 payable over 10 years on our Standard Variable Rate currently at 5.24% with a discount of 1.49%, giving a current rate payable of 3.75% for 24 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 £221.74, followed by 96 payments of £234.60. The total amount payable would be £28,137.36 made up of the loan amount plus interest (£5,683.36), 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 5.2% APRC representative.

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