Mortgage product
information.

Expat Residential 2 Year Discount Rate (Interest Only) – for purchase or remortgage up to 80% LTV

Mortgage details

Initial rate

5.59% (SVR minus 2.30%)

Rate Type

Variable

Rate Term

2 year

APRC

7.8%

Standard rate

STANDARD VARIABLE RATE of 7.89% with a discount of 2.30% until 2 years from completion date, then reverting to Suffolk Standard Variable Rate (currently 7.89%) for the remainder of the term.

Fees

Application Fee:
£199

Completion Fee:
£999

Valuation Fee:
Purchase – Based on property valuation

Remortgage – Based on property valuation

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

View full details of our valuation fees.

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

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

Representative example

An interest only mortgage of £247,000.00 payable over 20 years on our Standard Variable Rate currently at 7.89% with a discount of 2.30%, giving a current rate payable of 5.59% for 24 months, followed by our Standard Variable Rate currently at 7.89% for the remainder of the mortgage term. This would require 24 monthly payments of £1,155.43, followed by 216 payments of £1,630.82. The total amount payable would be £628,530.44 made up of the loan amount plus interest (£379,987.44) an application fee of £199, a completion fee of £999, a valuation fee of £215, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.8% APRC representative.

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