Mortgage product
information.
Residential 2 Year Discount Rate – for purchase or remortgage up to 90% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.59% (SVR minus 1.90%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.4% |
Standard rate | STANDARD VARIABLE RATE of 7.49% with a discount of 1.90% until 2 years from completion, then changing to Suffolk Standard Variable Rate (currently 7.49%) for the remainder of the term. |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): |
Maximum loan | £650,000 |
Maximum LTV | 90% |
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 £154,000.00 payable over 35 years on our Standard Variable Rate currently at 7.49% with a discount of 1.90%, giving a current rate payable of 5.59% for 24 months, followed by our Standard Variable Rate currently at 7.49% for the remainder of the mortgage term. This would require 24 monthly payments of £841.72, followed by 396 payments of £1,037.02. The total amount payable would be £431,328.20 made up of the loan amount plus interest (£275,820.20), an application fee of £199, a completion fee of £999, a valuation fee of £180, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.4% APRC representative.
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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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