Mortgage product
information.
Residential 2 Year Fixed Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 4.95% |
Rate Type | Fixed |
Rate Term | 2 year |
APRC | 7.5% |
Standard rate | FIXED RATE of 4.95% until 31/12/2027, then changing to Suffolk Standard Variable Rate (currently 7.74%) 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 31/12/2027 [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 £364,500.00 payable over 39 years initially on a fixed rate until 31/12/2027 at 4.95%, followed by our Standard Variable Rate currently at 7.74% for the remainder of the mortgage term. This would require 26 monthly payments of £1,764.89 followed by 442 monthly payments of £2,455.50. The total amount payable would be £1,131,814.78 made up of the loan amount plus interest (£765,686.78), 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 7.5% APRC representative.