Mortgage product
information.
Residential 5 Year Fixed Rate (Interest Only) – for purchase or remortgage up to 80% LTV
Mortgage details | |
---|---|
Initial rate | 5.09% |
Rate Type | Fixed |
Rate Term | 5 year |
APRC | 7.3% |
Standard rate | FIXED RATE of 5.09% until 5 years from completion date then changing to Suffolk Standard Variable Rate (currently 8.44%) for the remainder of the term |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): For full details of our valuation fees, please contact us. |
Maximum loan | £1m |
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] |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £75,000.00 payable over 17 years initially on a fixed rate of 5.09% for 5 years, then our Standard Variable Rate currently at 8.44% for the remainder of the mortgage term. This would require 60 monthly payments of £322.51, followed by 144 monthly payments of £534.77. The total amount payable would be £172,965.48 made up of the loan amount plus interest (£96,507.48), an application fee of £199, a completion fee of £999, a valuation fee of £130, a mortgage funds release fee of £35 and a mortgage exit fee of £95. The overall cost for comparison is 7.3% APRC representative.