Mortgage product
information.
Holiday Let 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.49% (SVR minus 2.00%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 6.9% |
Standard rate | STANDARD VARIABLE RATE of 7.49% with a discount of 2.00% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 7.49%) |
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 1% applies until 2 years from completion. This product offers fee-assisted legals on remortgages. However, this is only available for like-for-like remortgages. You may have to pay additional charges for non-standard applications. In some cases, the fee-assisted package may not be available. Some examples of when fee-assisted legals are not available include applications which are ‘Joint Borrower Sole Proprietor’, which involve a ‘Power of Attorney’, or a ‘second charge’. Contact us for more information. |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £320,000.00 payable over 9 years on our Standard Variable Rate currently at 7.49% with a discount of 2.00%, giving a current rate payable of 5.49% 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 £3,773.79, followed by 84 payments of £4,028.10. The total amount payable would be £429,455.13 made up of the loan amount plus interest (£107,897.13), an application fee of £199, a completion fee of £999, a valuation fee of £230, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 6.9% APRC representative.