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Mortgage product
information.

Holiday Let 5 Year Fixed Rate – for purchase or remortgage up to 80% LTV

Mortgage details

Initial rate

5.79%

Rate Type

Fixed

Rate Term

5 year

APRC

7.8%

Standard rate

FIXED RATE of 5.79% until 5 years following completion date, then changing to Suffolk Standard Variable Rate (currently 8.69%) for the remainder of the term

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

You can see how our fees are calculated by clicking here

Maximum loan

£1m

Maximum LTV

80%

Additional information

Fee free over-payments up to 50% of original loan. Early repayment charge of 5% applies until 5 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 £90,000.00 payable over 25 years initially on a fixed rate until 5 years from completion date at 5.79%, then on our Standard Variable Rate currently at 8.69% for the remainder of the mortgage term. This would require 60 monthly payments of £574.90, followed by 240 monthly payments of £718.09. The total amount payable would be £207,254.60 made up of the loan amount plus interest (£115,801.60), an application fee of £199, a completion fee of £999, a valuation fee of £125, 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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