Mortgage product
information.
Additional Borrowing (Residential) 2 Year Fixed Rate – up to 90% LTV
| Mortgage details | |
|---|---|
Initial rate | 3.50% |
Rate Type | Fixed |
Rate Term | 2 year |
APRC | 4.6% |
Standard rate | FIXED RATE of 3.50% 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%) 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 3% 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 £105,000.00 payable over 22 years initially on a fixed rate of 3.50% 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 £571.73, followed by 36 payments of £571.71, followed by 204 payments of £651.12. The total amount payable would be £167,425.56 made up of the loan amount plus interest (£61,971.56), 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 4.6% APRC representative.