Mortgage product
information.
Residential 2 Year Fixed Rate – for purchase or remortgage up to 90% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.90% |
Rate Type | Fixed |
Rate Term | 2 year |
APRC | 7.4% |
Standard rate | FIXED RATE of 5.90% until 31/01/2029, 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 3% applies until 31/01/2029. 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 £370,000.00 payable over 31 years initially on a fixed rate until 31/01/2029 at 5.90%, followed by our Standard Variable Rate currently at 7.49% for the remainder of the mortgage term. This would require 27 monthly payments of £2,175.08, followed by 345 monthly payments of £2,550.94. The total amount payable would be £939,370.42 made up of the loan amount plus interest (£567,767.42), an application fee of £199, a completion fee of £999, a valuation fee of £275, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.4% APRC representative.