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:
£199

Completion Fee:
£999

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

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

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.

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