Residential 2 Year Fixed Rate – for purchase or remortgage up to 90% LTV
FIXED RATE of 5.79% until 31/01/2026 then reverting to 6.95% (Suffolk SVR minus 1.74%) until 30/04/2029 (please note this rate will not fall below 3%), then changing to Suffolk Standard Variable Rate (currently 8.69%) for the remainder of the term
CHAPS (Fee for transfer of funds to solicitor):
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Fee free over-payments up to 50% of original loan. Early repayment charge of 3% applies until 31/01/2026 [Remortgage only: fee assisted legals]
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
A mortgage of £245,000.00 payable over 25 years initially on a fixed rate until 31/01/2026 at 5.79%, then on our Standard Variable Rate currently at 8.69% with a discount of 1.74%, giving a pay rate of 6.95% until 30/04/2029 (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 27 monthly payments of £1,553.77, followed by 39 monthly payments of £1,719.38, followed by 234 monthly payments of £1,953.46. The total amount payable would be £566,611.25 made up of the loan amount plus interest (£320,083.25), an application fee of £199, a completion fee of £999, a valuation fee of £200, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.9% APRC representative.