Mortgage product
information.
Residential 3 Year Fixed Rate – for purchase or remortgage up to 90% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.79% |
Rate Type | Fixed |
Rate Term | 3 year |
APRC | 7.8% |
Standard rate | FIXED RATE of 5.79% 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. |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): You can see how our fees are calculated by clicking here |
Maximum loan | £500,000 |
Maximum LTV | 90% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 3% applies until 31/01/2027 [Remortgage only: fee assisted legals] |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £245,000.00 payable over 25 years initially on a fixed rate until 31/01/2027 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 39 monthly payments of £1,553.77, followed by 27 monthly payments of £1,713.83, followed by 234 monthly payments of £1,947.22. The total amount payable would be £563,013.92 made up of the loan amount plus interest (£316,485.92), 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 7.8% APRC representative.