Mortgage product
information.
Residential 5 Year Fixed Rate – for purchase or remortgage up to 90% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.05% |
Rate Type | Fixed |
Rate Term | 5 year |
APRC | 7.1% |
Standard rate | FIXED RATE of 5.05% until 5 years from completion date then changing to Suffolk Standard Variable Rate (currently 7.89%) |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): |
Maximum loan | £650,000 |
Maximum LTV | 90% |
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] |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £364,500.00 payable over 39 years on initially on a fixed rate until 5 years from completion date at 5.05%, then our Standard Variable Rate currently at 7.89% for the remainder of the mortgage term. This would require 60 monthly payments of £1,788.93, followed by 408 payments of £2,460.95. The total amount payable would be £1,112,117.42 made up of the loan amount plus interest (£746,014.42), 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 7.1% APRC representative.