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Mortgage product
information.

Buy To Let Light Refurbishment 2 Year Discount Rate – for purchase or remortgage up to 80% LTV

Mortgage details

Initial rate

5.89% (SVR minus 2.80%)

Rate Type

Variable

Rate Term

2 year

APRC

8.5%

Standard rate

STANDARD VARIABLE RATE of 8.69% with a discount of 2.80% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 8.69%)

Fees

Application Fee:
£199

Completion Fee:
£999

Valuation Fee:
Purchase – Based on property valuation

Remortgage – FREE

CHAPS (Fee for transfer of funds to solicitor):
£35

You can see how our fees are calculated by clicking here

Maximum loan

£1m

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 [Remortgage only: fee assisted legals]

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Representative example

A mortgage of £160,000.00 payable over 25 years on our Standard Variable Rate currently at 8.69% with a discount of 2.80%, giving a current rate payable of 5.89% for 24 months, then on our Standard Variable Rate currently at 8.69% for the remainder of the mortgage term. This would require 24 monthly payments of £1,356.53, followed by 216 payments of £1,654.31. The total amount payable would be £390,361.68 made up of the loan amount plus interest (£198,873.68), an application fee of £199, a completion fee of £999, a valuation fee of £160, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 8.4% APRC representative.

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