Mortgage product
information.
Additional Borrowing (Self Build) 2 Year Discount – up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 6.74% (SVR minus 1.15%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 8.0% |
Standard rate | STANDARD VARIABLE RATE of 7.89% with a discount of 1.15% until 2 years following completion date, then reverting to Suffolk Standard Variable Rate (currently 7.89%) 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 | 80% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 1% applies until 2 years from completion date. |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £100,000.00 payable over 33 years on our Standard Variable Rate currently at 7.89% with a discount of 1.15%, giving a current rate payable of 6.74% 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 £631.27, followed by 372 payments of £708.90. The total amount payable would be £279,153.91 made up of the loan amount plus interest (£178,699.91), 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 8.0% APRC representative.