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 | 5.2% |
Standard rate | FIXED RATE of 3.50% until 2 years following completion date, then reverting to 3.80% (SVR minus 1.74%) for 36 months, then changing to Suffolk Standard Variable Rate (currently 5.54%) for the remainder of the term |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): You can see how our fees are calculated by clicking here |
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 £35,000.00 payable over 39 years initially on a fixed rate for 24 months at 3.50%, then on our Standard Variable Rate currently at 5.54% with a discount of 1.74%, giving a pay rate of 3.80% for 36 months (please note that the rate payable will never fall below 3%). This will be followed by our Standard Variable Rate currently at 5.54% for the remainder of the mortgage term. This would require 24 monthly payments of £137.82, followed by 36 monthly payments of £143.94, followed by 408 monthly payments of £179.47. The total amount payable would be £82,007.28 made up of the loan amount plus interest (£44,553.28), 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 5.2% APRC representative.