Residential 5 Year Fixed Rate – for purchase or remortgage up to 80% LTV
FIXED RATE of 2.85% until 5 years from completion date then changing to Suffolk Standard Variable Rate (currently 5.54%) 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 5% applies until 5 years from completion [Remortgage only: fee assisted legals]
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
A mortgage of £108,500.00 payable over 28 years initially on a fixed rate until 5 years from completion date at 2.85%, then on our Standard Variable Rate currently at 5.54% for the remainder of the mortgage term. This would require 60 monthly payments of £473.55, followed by 276 monthly payments of £614.63. The total amount payable would be £197,799.80 made up of the loan amount plus interest (£88,516.88), an application fee of £199, a completion fee of £999, a valuation fee of £125, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 4.7% APRC representative.