Mortgage product
information.
Residential 2 Year Discount Rate (Capital & Interest) – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.00% (SVR minus 3.44%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.6% |
Standard rate | STANDARD VARIABLE RATE of 8.44% with a discount of 3.44% until 2 years from completion date, then reverting to 6.70% (Suffolk SVR minus 1.74%) for 36 months (please note this rate will never fall below 3%), 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): For full details of our valuation fees, please contact us. |
Maximum loan | £2m |
Maximum LTV | 80% |
Additional information | Unlimited Fee Free overpayments up to 50% of the 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 £430,400.00 payable over 24 years on our Standard Variable Rate currently at 8.44% with a discount of 3.44%, giving a current rate payable of 5.00% 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 £2,575.22, followed by 36 payments of £2,986.16, followed by 228 payments of £3,390.64. The total amount payable would be £943,165.81 made up of the loan amount plus interest (£511,087.81), an application fee of £199, a completion fee of £999, a valuation fee of £350, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.6% APRC representative.