Mortgage product
information.
Self Build 2 Year Discount Rate – for purchase or remortgage up to 80% LTV
| Mortgage details | |
|---|---|
Initial rate | 6.09% (SVR minus 2.60%) |
Rate Type | Variable |
Rate Term | 2 year |
APRC | 7.9% |
Standard rate | STANDARD VARIABLE RATE of 8.69% with a discount of 2.60% until 2 years from completion date, then reverting to 7.69% (Suffolk SVR minus 1%) for 36 months (please note this rate will not fall below 3%), then changing to Suffolk Standard Variable Rate (currently 8.69%) |
Fees | Application Fee: Completion Fee: Valuation Fee: CHAPS (Fee for transfer of funds to solicitor): You can see how our fees are calculated by clicking here |
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 £400,000.00 payable over 13 years on our Standard Variable Rate currently at 8.69% with a discount of 2.60%, giving a current rate payable of 6.09% for 24 months, then on our Standard Variable Rate currently at 8.69% with a discount of 1.00%, giving a rate payable of 7.69% for 36 months (please note that the rate payable will never fall below 3%). This will be followed by our Standard Variable Rate currently at 8.69% for the remainder of the mortgage term. This would require 24 monthly payments of £3,732.08, followed by 36 payments of £4,031.30, followed by 96 payments of £4,179.01. The total amount payable would be £636,490.68 made up of the loan amount plus interest (£234,347.68), a mortgage funds release fee of £35, an application fee of £199, a completion fee of £1,499, a valuation fee of £315 and a mortgage exit fee of £95. The overall cost for comparison is 7.9% APRC representative.