Mortgage product
information.
Residential 2 Year Fixed Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 4.65% |
Rate Type | Fixed |
Rate Term | 2 year |
APRC | 7.2% |
Standard rate | FIXED RATE of 4.65% until 31/05/2028, 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 | £2m |
Maximum LTV | 80% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 3% applies until 31/05/2028 [Remortgage Only: fee-assisted legals, excluding Joint Borrower Sole Proprietor applications] |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £370,000.00 payable over 31 years initially on a fixed rate until 31/05/2028 at 4.65%, followed by our Standard Variable Rate currently at 7.49% for the remainder of the mortgage term. This would require 28 monthly payments of £1,884.92 followed by 344 monthly payments of £2,531.16. The total amount payable would be £924,088.81 made up of the loan amount plus interest (£552,460.81), an application fee of £199, a completion fee of £999, a valuation fee of £300, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.2% APRC representative.