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Mortgage product
information.

Holiday Let 2 Year Discount Rate – for purchase or remortgage up to 80% LTV

Mortgage details

Initial rate

3.39% (SVR minus 1.85%)

Rate Type

Variable

Rate Term

2 year

APRC

5.1%

Standard rate

STANDARD VARIABLE RATE of 5.24% with a discount of 1.85% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 5.24%)

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

Maximum loan

£500,000

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 £305,000.00 payable over 25 years initially on our Standard Variable Rate currently at 5.24% with a discount of 1.85% for 24 months, giving a current rate payable of 3.39%, then on our Standard Variable Rate for the remainder of the mortgage term would require 24 monthly payments of £1,514.08, followed by 276 monthly payments of £1,809.68. The total amount payable would be £536,373.60 made up of the loan amount plus interest (£229,775.60), an application fee of £199, a completion fee of £999, a valuation fee of £270, a mortgage funds release fee of £35 and a mortgage discharge fee of £95. The overall cost for comparison is 5.1% APRC representative.

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