Mortgage product
information.
Expat Buy To Let 2 Year Discount Rate – for purchase or remortgage up to 85% LTV
| Mortgage details | |
|---|---|
Initial rate | 6.05% (SVR minus 1.44%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.4% |
Standard rate | STANDARD VARIABLE RATE of 7.49% with a discount of 1.44% until 2 years from completion date, then reverting to Suffolk Standard Variable Rate (currently 7.49%) for the remainder of the term. |
Fees | Application Fee: Completion Fee: Valuation Fee: Remortgage – Based on property valuation CHAPS (Fee for transfer of funds to solicitor): |
Maximum loan | £650,000 |
Maximum LTV | 85% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 1% 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 £371,000.00 payable over 10 years on our Standard Variable Rate currently at 7.49% with a discount of 1.44%, giving a current rate payable of 6.05% for 24 months, then on our Standard Variable Rate currently at 7.49% for the remainder of the mortgage term. This would require 24 monthly payments of £1,878.19, followed by 96 payments of £2,325.23. The total amount payable would be £641,401.64 made up of the loan amount plus interest (£268,298.64), an application fee of £199, a completion fee of £1,499, a valuation fee of £275, a mortgage funds release fee of £35 and a mortgage discharge fee of £95. The overall cost for comparison is 7.4% APRC representative.