Mortgage product
information.
Green Additional Borrowing (Residential) 2 Year Discount Rate – up to 90% LTV
Mortgage details | |
---|---|
Initial rate | 4.74% (SVR minus 3.70%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.0% |
Standard rate | STANDARD VARIABLE RATE of 8.44% with a discount of 3.70% until 2 years following completion date, then reverting to 6.70% (SVR minus 1.74%) for 36 months, then changing to Suffolk Standard Variable Rate (currently 8.44%) |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): |
Maximum loan | £40,000 |
Maximum LTV | 90% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 1% applies until 2 years from completion date. For more information on our green further advance mortgages please click here. |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £30,000.00 payable over 13 years on our Standard Variable Rate currently at 8.44% with a discount of 3.70%, giving a current rate payable of 4.74% for 24 months, then on our Standard Variable Rate currently at 8.44% with a discount of 1.74%, giving a rate payable of 6.70% for 36 months (please note that the rate payable will never fall below 3%). This will be followed by our Standard Variable Rate currently at 8.44% for the remainder of the mortgage term. This would require 24 monthly payments of £258.27, followed by 36 payments of £284.56, followed by 96 monthly payments of £303.05. The total amount payable would be £45,630.44 made up of the loan amount plus interest (£15,500.44), a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.0% APRC representative.
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Our decisions are made by experts, not computers. We need to calculate the financials, but we understand there’s more behind a mortgage than the numbers on a page. We can’t promise to lend to everyone and anyone, but we’ll consider most applications on an individual basis.
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