The Bank of England reduced the base rate by 0.25 percentage points to 4.75% on Thursday 7 November 2024. Find out how this affects your mortgage or savings account here.

Mortgage product
information.

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

Mortgage details

Initial rate

5.84% (SVR minus 2.60%)

Rate Type

Variable

Rate Term

2 year

APRC

8.2%

Standard rate

STANDARD VARIABLE RATE of 8.44% with a discount of 2.60% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 8.44%)

Fees

Application Fee:
£199

Completion Fee:
£125

Valuation Fee:
FREE

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 £80,000.00 payable over 22 years on our Standard Variable Rate currently at 8.44% with a discount of 2.60%, giving a current rate payable of 5.84% for 24 months, then on our Standard Variable Rate currently at 8.44% for the remainder of the mortgage term. This would require 24 monthly payments of £540.00, followed by 240 monthly payments of £659.69. The total amount payable would be £171,579.60 made up of the loan amount plus interest (£91,125.60), 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 8.2% APRC representative.

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