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Mortgage product
information.

Residential 5 Year Fixed Rate – for purchase or remortgage up to 90% LTV

Mortgage details

Initial rate

3.09%

Rate Type

Fixed

Rate Term

5 year

APRC

4.4%

Standard rate

FIXED RATE of 3.09% until 5 years from completion date then changing to Suffolk Standard Variable Rate (currently 5.24%)

Fees

Application Fee:
£199

Completion Fee:
£999

Valuation Fee:
Purchase – Based on property valuation
Remortgage – FREE

CHAPS (Fee for transfer of funds to solicitor):
£35

Maximum loan

£500,000

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 £228,600.00 payable over 20 years initially on a fixed rate until 5 years from completion date at 3.09%, then on our Standard Variable Rate currently at 5.24% for the remainder of the mortgage term. This would require 60 monthly payments of £1,283.92, followed by 180 monthly payments of £1,484.22. The total amount payable would be £344,688.80 made up of the loan amount plus interest (£114,560.80), 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 4.4% APRC representative.

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