Mortgage product
information.
Additional Borrowing (Buy To Let) Discount Rate – up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.29% (SVR minus 2.60%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.6% |
Standard rate | STANDARD VARIABLE RATE of 7.89% with a discount of 2.60% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 7.89%) |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor):
|
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 £80,000.00 payable over 22 years on our Standard Variable Rate currently at 7.89% with a discount of 2.60%, giving a current rate payable of 5.29% for 24 months, then on our Standard Variable Rate currently at 7.89% for the remainder of the mortgage term. This would require 24 monthly payments of £514.44, followed by 240 monthly payments of £631.26. The total amount payable would be £164,145.30 made up of the loan amount plus interest (£83,691.30), 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 7.6% APRC representative.