Mortgage product
information.
Residential 2 Year Discount Rate No-ERC (Capital & Interest) – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.69% (SVR minus 3.00%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.9% |
Standard rate | STANDARD VARIABLE RATE of 8.69% with a discount of 3.00% until 2 years from completion date, then reverting to 6.95% (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 8.69%) |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): You can see how our fees are calculated by clicking here |
Maximum loan | £1m |
Maximum LTV | 80% |
Additional information | Unlimited Fee Free Over payments. [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 8.69% with a discount of 3.00%, giving a current rate payable of 5.69% for 24 months, then on our Standard Variable Rate currently at 8.69% with a discount of 1.74%, giving a rate payable of 6.95% 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 8.69% for the remainder of the mortgage term. This would require 24 monthly payments of £2,749.81, followed by 36 payments of £3,061.57, followed by 228 payments of £3,472.37. The total amount payable would be £968,576.32 made up of the loan amount plus interest (£536,478.32), an application fee of £199, a completion fee of £999, a valuation fee of £370, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.9% APRC representative.