Mortgage product
information.
Residential 2 Year Discount Rate (Capital & Interest) – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 4.75% (SVR minus 3.14%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.6% |
Standard rate | STANDARD VARIABLE RATE of 7.89% with a discount of 3.14% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 7.89%) |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): |
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 £526,000.00 payable over 35 years on our Standard Variable Rate currently at 7.89% with a discount of 3.14%, giving a current rate payable of 4.75% for 24 months, followed by our Standard Variable Rate currently at 7.89% for the remainder of the mortgage term. This would require 24 monthly payments of £2,576.44, followed by 396 payments of £3,657.21. The total amount payable would be £1,510,976.29 made up of the loan amount plus interest (£983,198.29), an application fee of £199, a completion fee of £999, a valuation fee of £450, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.6% APRC representative.