Mortgage product
information.
Residential 5 Year Fixed Rate (Capital & Interest) – for purchase or remortgage up to 95% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.20% |
Rate Type | Fixed |
Rate Term | 5 year |
APRC | 6.8% |
Standard rate | FIXED RATE of 5.20% until 5 years from completion date 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 | £500,000 |
Maximum LTV | 95% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 5% applies until 5 years from completion |
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 on initially on a fixed rate until 5 years from completion date at 5.20%, then our Standard Variable Rate currently at 7.49% for the remainder of the mortgage term. This would require 60 monthly payments of £2,010.23, followed by 312 payments of £2,503.45. The total amount payable would be £902,262.89 made up of the loan amount plus interest (£530,659.89), 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 6.8% APRC representative.