Mortgage product
information.
Residential 5 Year Fixed Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 4.79% |
Rate Type | Fixed |
Rate Term | 5 year |
APRC | 6.7% |
Standard rate | FIXED RATE of 4.79% 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 | £2m |
Maximum LTV | 80% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 5% applies until 5 years from completion [Remortgage Only: fee-assisted legals, excluding Joint Borrower Sole Proprietor applications] |
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 4.79%, then our Standard Variable Rate currently at 7.49% for the remainder of the mortgage term. This would require 60 monthly payments of £1,916.45, followed by 312 payments of £2,489.28. The total amount payable would be £892,233.74 made up of the loan amount plus interest (£520,605.74), an application fee of £199, a completion fee of £999, a valuation fee of £300, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 6.7% APRC representative.