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 5.24%) for the remainder of the term
CHAPS (Fee for transfer of funds to solicitor):
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 £228,600.00 payable over 20 years initially on a fixed rate until 5 years from completion date at 2.85%, then on our Standard Variable Rate currently at 5.24% for the remainder of the mortgage term. This would require 60 monthly payments of £1,256.37, followed by 180 monthly payments of £1,476.89. The total amount payable would be £341,716.40 made up of the loan amount plus interest (£111,588.40), 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 4.3% APRC representative.