Residential 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
2.25% (SVR minus 2.99%)
STANDARD VARIABLE RATE of 5.24% with a discount of 2.99% until 2 years from completion then reverting to 3.50% (Suffolk SVR minus 1.74%) for 36 months, then changing to Suffolk Standard Variable Rate (currently 5.24%) for the remainder of the term
CHAPS (Fee for transfer of funds to solicitor):
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
A mortgage of £150,000.00 payable over 15 years on our Standard Variable Rate currently at 5.24% with a discount of 2.99%, giving a current rate payable of 2.25% for 24 months, then on our Standard Variable Rate currently at 5.24% with a discount of 1.74%, giving a rate payable of 3.50% 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 5.24% for the remainder of the mortgage term. This would require 24 monthly payments of £989.40, followed by 36 payments of £1,068.10, followed by 120 payments of £1,158.34. The total amount payable would be £201,652.00 made up of the loan amount plus interest (£50,164.00), an application fee of £199, a completion fee of £999, a valuation fee of £160, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 4.1% APRC representative.
Our decisions are made by experts, not computers. We need to calculate the financials, but we understand there’s more behind a mortgage than the numbers on a page. We can’t promise to lend to everyone and anyone, but we’ll consider most applications on an individual basis.
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