Mortgage product
information.
Self Build 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 5.55% (SVR minus 1.94%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.3% |
Standard rate | STANDARD VARIABLE RATE of 7.49% with a discount of 1.94% until 2 years from completion date, then changing to Suffolk Standard Variable Rate (currently 7.49%) for the remainder of the term. |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): |
Maximum loan | £1m |
Maximum LTV | 80% |
Additional information | Fee free over-payments up to 50% of original loan. Early repayment charge of 2% applies until 2 years from completion |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £875,000.00 payable over 21 years on our Standard Variable Rate currently at 7.49% with a discount of 1.94%, giving a current rate payable of 5.55% for 24 months, followed by our Standard Variable Rate currently at 7.49% for the remainder of the mortgage term. This would require 24 monthly payments of £5,897.59, followed by 228 payments of £6,833.63. The total amount payable would be £1,701,028.86 made up of the loan amount plus interest (£823,075.86), a mortgage funds release fee of £35, an application fee of £199, a completion fee of £1,499, a valuation fee of £1,125 and a mortgage exit fee of £95. The overall cost for comparison is 7.3% APRC representative.