Residential 3 Year Fixed Rate (Capital & Interest) – for purchase or remortgage up to 80% LTV
FIXED RATE of 5.49% until 31/01/2027 then reverting to 6.95% (Suffolk SVR minus 1.74%) until 30/04/2029 (please note this rate will never 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 31/01/2027 [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 31/01/2027 at 5.49%, 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 38 monthly payments of £1,509.40, followed by 27 monthly payments of £1,709.70, followed by 235 monthly payments of £1,943.26. The total amount payable would be £560,719.20 made up of the loan amount plus interest (£314,151.20), an application fee of £199, a completion fee of £999, a valuation fee of £240, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.7% APRC representative.
Our decisions are made by experts, not computers. We need to calculate the financials, but we understand there’s more behind a mortgage than the numbers on a page. We can’t promise to lend to everyone and anyone, but we’ll consider most applications on an individual basis.
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Call 0330 123 0723