Mortgage product
information.
Buy To Let Light Refurbishment 5 Year Fixed Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.49% |
Rate Type | Fixed |
Rate Term | 5 year |
APRC | 6.0% |
Standard rate | Fixed Rate of 5.49% until 5 years following completion date, then changing to Suffolk Standard Variable Rate (currently 8.14%) for the remainder of the term |
Fees | Application Fee: Completion Fee: Valuation Fee: Remortgage – FREE CHAPS (Fee for transfer of funds to solicitor): |
Maximum loan | £1m |
Maximum LTV | 80% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 5% applies until 5 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 £495,000.00 payable over 8 years initially on a fixed rate until 5 years from completion date at 5.49%, then on our Standard Variable Rate currently at 8.14% for the remainder of the mortgage term. This would require 60 monthly payments of £6,396.11, followed by 36 monthly payments of £6,652.38. The total amount payable would be £623,996.26 made up of the loan amount plus interest (£127,218.26) an application fee of £199, a completion fee of £999, a valuation fee of £450, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 6.0% APRC representative.